Preliminary data showed that domestic liquidity (M3) grew by 5.8 percent year-on-year to about ?18.2 trillion in April from 6.2 percent (revised) in March, the Bangko Sentral ng Pilipino (BSP) said.

On a month-on-month seasonally adjusted basis, M3 increased marginally by 0.1 percent.

Domestic claims rose by 10.9 percent year-on-year in April from 10.5 percent (revised) in March. Claims on the private sector grew by 11.4 percent in April from 11.6 percent (revised) in the previous month with the sustained expansion in bank lending to non-financial private corporations and households.

Net claims on the central government increased by 9.4 percent from 8.1 percent (revised) due to higher borrowings by the National Government.

Net foreign assets (NFA) in peso terms decreased marginally by 0.2 percent year-on-year in April compared to 2.6 percent (revised) in March. The BSP’s NFA increased by 0.1 percent.

Meanwhile, the NFA of banks declined largely on account of higher foreign currency-denominated bills payable. Bangko Sentral ng Pilipinas