The central bank remains committed to its mandate of maintaining stability in the sectors that support the country’s economic growth, Bangko Sentral ng Pilipinas Gov. In terms of monetary policy, Bangko Sentral continues to support favorable inflation dynamics, Diokno said. “We have also seen continued improvement in the growth of both domestic liquidity and credit activities in line with the needs of the economy,” Diokno noted. Domestic liquidity expanded by 11.4 percent year-on-year to about P13.0 trillion in December 2019, faster than the 9.8-percent growth in November. Cash remittances reached $30.1 billion in 2019, while BPO revenues were recorded at $16.4 billion for the first three quarters of 2019, Diokno said.

Source: Manila Times March 03, 2020 16:18 UTC