Banks’ RRR up 1 pct point to 20%

The Philippine central bank has decided to further raise the reserve requirement ratio (RRR) for commercial banks by 1 percentage point to 20 percent effective May 30 to guard against risks that could arise from strong domestic liquidity.

At the same time, the Bangko Sentral ng Pilipinas (BSP) kept its key policy rates unchanged based on its assessment that the current monetary policy settings “continue to be appropriate given a manageable inflation environment.”