The facade of the Bangko Sentral ng Pilipinas, adorned with a new logo featuring a gold-colored, full-bodied Philippine eagle with wings spread upward and stars positioned above,  at the Bangko Sentral Headquarters in Quezon City on February 9, 2024.Maria Tan, ABS-CBN News

Bangko Sentral ng Pilipinas

Benise Balaoing

ABS-CBN News

<p>MANILA -- The Bangko Sentral ng Pilipinas (BSP) said bank lending grew in November as interest rates started to ease.</p><p>In a statement, the BSP said loans of universal and commercial banks grew by 11.1 percent year-on-year in November.</p><p>Loans to residents also climbed by 11.3 percent in November from 10.7 percent in October.</p><p>The Bangko Sentral said loans for production activities of businesses inched up to 9.8 percent in November, from 9.1 percent the month before.</p><p>The central bank said this is because of more lending to wholesale and retail trade, repair of motor vehicles and motorcycles (9.1 percent); electricity, gas, steam, and air-conditioning supply (9.6 percent); and financial and insurance activities (4.4 percent). </p><p>Meanwhile, more consumer loans kept rising by 23.3 percent in November because of more credit card and car loans. </p><p>The Bangko Sentral also said domestic liquidity grew by 7.7 percent in November.</p><p>The BSP started cutting interest rates in August as <a href="https://www.abs-cbn.com/business/2024/8/15/bangko-sentral-cuts-interest-rates-819" rel="noopener noreferrer" target="_blank">inflation</a>--or the rising prices of goods and services--showed signs of easing. </p><p>The central bank slashed its benchmark target reverse repurchase rate to 5.75 percent in its December meeting. </p><div><a href="https://www.abs-cbn.com/news/business/2024/12/19/bsp-cuts-interest-rates-by-25-bps-1506" rel="noopener noreferrer" target="_blank">Bangko Sentral cuts interest rates by 25 basis points</a></div><p>Philippine inflation quickened in December to 2.9 percent as power rates and housing costs climbed. The BSP said risks to inflation remain to the upside because of possible increases in transportation fares and electricity rates. It noted, however, that lower import tariffs on rice can keep inflation under control.</p><div><a href="https://www.abs-cbn.com/news/business/2025/1/7/inflation-quickens-in-december-but-full-year-rate-stays-within-target-0908" rel="noopener noreferrer" target="_blank">Inflation quickens in December but full-year rate stays within target</a></div><p>A think-tank said it expects inflation to stay within the government&#x27;s target of 2 to 4 percent, although price pressures may be picking up in the coming months.</p><div><a href="https://www.abs-cbn.com/news/business/2025/1/9/ph-may-see-fewer-interest-rate-cuts-in-2025-fitch-unit-1247" rel="noopener noreferrer" target="_blank">PH may see fewer interest rate cuts in 2025: Fitch unit</a></div>

<p>The Bangko Sentral ng Pilipinas said bank lending grew in November as interest rates started to ease.</p>

The Bangko Sentral ng Pilipinas said bank lending grew in November as interest rates started to ease.

Bank lending, domestic liquidity grow in November as rates ease | ABS-CBN

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Bank lending, domestic liquidity grow in November as rates ease

Bank lending, domestic liquidity grow in November as rates ease

Benise Balaoing,

ABS-CBN News

Published Jan 10, 2025 03:41 PM PHT

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