Household credit growth is weak but this is very much linked to still-high household debt as a percentage of disposable income. 3 Meanwhile, the credit extended to corporates has in fact accelerated since interest rates have risen, and averaged 13 per cent over the past year.
The members of our National Selection Committee have also been generous in terms of giving guides to growing their business and providing marketing outlets for consumer goods. On our part, the Bangko Sentral will continue to provide a policy environment conducive to broader participation of banks in the microfinance sector. Rediscounting of microfinance loans will also continue.