RP money supply up 15% in May
Reuters | 07/03/2009 3:48 PM
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MANILA - Philippine money supply climbed 15 percent in May from a year ago, faster than the 13.7 percent annual rise in April, the Bangko Sentral ng Pilipinas (BSP) said on Friday.
Money supply is one of many indicators the central bank looks at when setting policy rates because of its impact on inflation.
The BSP has cut its policy rates by a total 1.75 percentage points since it started the current easing cycle in December and is widely expected to deliver another 25 basis point reduction at its July 9 policy meeting.
Its key overnight borrowing rate is now at 4.25 percent.
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