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Money moving in PHL economy expands on relaxed policy


The amount of money circulating in the Philippine economy expanded by 9.1 percent in April from 5.6 percent in March, riding on relaxed monetary policy, the Bangko Sentral ng Pilipinas (BSP) said Friday.
 
Domestic liquidity or M3 totaled P4.58 trillion as of end-April or P380 billion more than the year-earlier level of P4.2 trillion, BSP Governor Amando Tetangco Jr. said in a statement.
 
“The relatively more rapid domestic liquidity growth during the month reflects in part the impact of recent policy actions of the BSP to help support a non-inflationary economic growth,” the central bank chief said.
 
The BSP inflation target is 3 percent to 5 percent this year.
 
“Going forward, the BSP will continue to monitor closely monetary conditions to ensure that liquidity in the financial system remains in line with the BSP’s price stability objective,” Tetangco said. —VS, GMA News Online
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