The GIR is supported by improving inflows of cash remittances from overseas workers, receipts from business process outsourcing and FDI inflows. On the Philippine banking system… Liquidity in the financial system remains ample. Preliminary data show that domestic liquidity (M3) grew 9.8 percent year-on-year in January 2022 to about P15.3 trillion, following a 7.3percent expansion in the previous month.
This package includes the following elements: The interest rate on the deposit facility was reduced by 10 basis points, to 0.50%.