Finally, the wider aggregate in pesos (means of payment plus time deposits, or M3) is expected to reach an annual growth rate of 14.7 percent by year-end. In spite of persistent volatility in international markets, domestic demand for money has recovered as from the second half of November. In fact, M2 grew by 1.4 percent throughout November, whereas M3 increased by 0.9 percent.
This should result in compliance being enforced without fear, favour or prejudice, and should enhance the credibility and integrity of the compliance enforcement process within the national payment system.