Money supply grew 5.5 percent year-on-year to P17.4 trillion in August 2024, slower than the 7.3 -percent increase in July, the Bangko Sentral ng
Pilipinas said over the weekend.
Claims on the private sector grew 11.9 percent in August, from 12.0 percent in July, driven by sustained expansion in bank lending to non-financial private corporations and households. Net foreign assets in peso terms rose 2.4 percent year-on-year in August, compared to 11.2 percent in July. The BSP’s NFA grew by 7.7 percent, while the NFA of banks contracted, largely due to higher bills and bonds payable.
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