BSP cuts key interest rates

The Monetary Board’s decision was based on the easing of price pressures. #BSPpolicyrate

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno announced Thursday the Monetary Board’s decision to cut key policy rates by 25 basis points effective 27 September 2019.

This brings the current 4.25 percent interest rate on the BSP’s overnight reverse repurchase facility down to just 4 percent.

Similarly, interest rates on the overnight deposit and lending facilities were reduced to 3.5 percent and 4.5 percent, respectively.

“The Monetary Board’s decision is based on its assessment that price pressures have eased further since the previous meeting,” Diokno said.