M3 posts slowest growth of 5.7% in 6 mos–BSP
The Bangko Sentral ng Pilipinas (BSP) reports that efforts to control inflation have led to the slowest growth in domestic liquidity in six months, with a 5.7% increase in M3 in July 2023 compared to July 2022. This comes as part of the BSP's measures to bring down inflation and stabilize prices, impacting the monetary policy stance. The relatively lower maturing government securities and Treasury bonds from May to July 2023 also played a role in reducing excess peso liquidity in the financial system.
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