Philippines' M3 money supply grew 15.6% year-on-year in March, faster than a 14.6% rise in February, the Bangko Sentral ng Pilipinas or BSP said Friday. A year ago, in March, the M3 money supply was up 2.1%.

Month-on-month, the M3 money supply increased a seasonally adjusted 0.5% in March, following a 0.9% fall in the preceding month.

In a separate report, the BSP said the total bank lending activity rose 18.9% year-on-year in March, slowing from a 22.5% growth in February. Excluding the reverse repurchase agreements, the lending activity grew 17.8% in March, after a 22.6% rise in the preceding month.

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