The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) held its benchmark interest rates on overnight borrowing and lending facilities steady at its policy meeting Thursday, but raised its rate on the Special Deposit Account (SDA) facility by 25 basis points to 2.25 percent.
BSP Governor Amando Tetangco Jr. told reporters in a press briefing after the Board meeting that the policy making body decided to keep the interest rate for overnight borrowing or reverse repurchase (RRP) facility at 3.5 percent and the rate for overnight lending or repurchase facility (RP) at 5.5 percent.
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