Liquidity, bank lending down in August as BSP policy tightening takes hold

      Bank lending and money supply growth --- both indicators of inflationary cash in the local financial system --- eased during the month of August, raising hopes that the central bank's efforts to rein in consumer prices may be starting to work.   In a press statement, the Bangko Sentral ng Pilipinas (BSP) said that the outstanding loans of commercial banks grew at a lower rate at 18.9 percent in August from 19.6 percent in July.   Including banks' short term deposits with the central bank, the growth in bank lending also slowed down at 18.4 percent in August from 18.7 percent in the previous month. On a month-on-month seasonally-adju...

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