Philippine monetary board lowers interest rates by 50 basis points

The Philippine monetary board lowered key interest rates by 50 basis points effective Monday, in a move that paralleled the US Federal ReserveÆs cut last Wednesday.
February 01, 2001

After the cut, the overnight RRP (reverse repo) rate will be 11.5%, while the RP (repurchase) rate will be 13.75%. This is the fourth rate cut for the year.

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