(Bloomberg) -- The Philippine central bank cut its
key interest rate and ended a policy of staggering borrowing
costs depending on the size of deposits, effectively keeping the
cost of lending in the $117 billion economy unchanged.
Bangko Sentral ng Pilipinas lowered the reverse repurchase
rate by 1.5 percentage points to 6 percent, Governor Amando
Tetangco told reporters in Manila today. It also scrapped a
policy of paying lower rates of interest on large deposits
placed with the central bank.
Read more at Bloomberg Emerging Markets News
key interest rate and ended a policy of staggering borrowing
costs depending on the size of deposits, effectively keeping the
cost of lending in the $117 billion economy unchanged.
Bangko Sentral ng Pilipinas lowered the reverse repurchase
rate by 1.5 percentage points to 6 percent, Governor Amando
Tetangco told reporters in Manila today. It also scrapped a
policy of paying lower rates of interest on large deposits
placed with the central bank.
Read more at Bloomberg Emerging Markets News
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