| Domestic Liquidity (M3) | |||
| M3 (Levels) | M3 Growth | ||
| Original Series | Seasonally-Adjusted | Month-on-Month | |
| Jan-2003 | 1,634 | 1,615.9 | -0.38 |
| Feb | 1,621 | 1,620.2 | 0.27 |
| Mar | 1,635 | 1,621.7 | 0.09 |
| Apr | 1,608 | 1,600.2 | -1.33 |
| May | 1,633 | 1,627.0 | 1.68 |
| Jun | 1,647 | 1,638.2 | 0.69 |
| Jul | 1,611 | 1,635.9 | -0.14 |
| Aug | 1,619 | 1,649.2 | 0.81 |
| Sep | 1,641 | 1,662.3 | 0.79 |
| Oct | 1,639 | 1,661.4 | -0.05 |
| Nov | 1,682 | 1,687.9 | 1.59 |
| Dec | 1,725 | 1,674.9 | -0.77 |
| Jan-2004 | 1,705 | 1,687.6 | 0.76 |
| Feb | 1,693 | 1,692.5 | 0.29 |
| Mar | 1,713 | 1,698.2 | 0.34 |
| Apr | 1,712 | 1,704.7 | 0.38 |
| May | 1,733 | 1,725.1 | 1.20 |
| Jun | 1,740 | 1,731.0 | 0.34 |
| Jul | 1,719 | 1,745.5 | 0.84 |
| Aug | 1,718 | 1,749.9 | 0.25 |
| Sep | 1,728 | 1,750.6 | 0.04 |
| Oct | 1,741 | 1,765.0 | 0.83 |
| Nov | 1,787 | 1,793.1 | 1.59 |
| Source: BSP Department of Economic Research | |||