The Monetary Board raised its two key interest rates by 25 basis points each at its policy meeting on Thursday, effective immediately, but maintained its rates on other instruments.
The new rate for overnight borrowing now stands at 3.75 percent, up from 3.5 percent, and that of the overnight lending is now at 5.75 percent, up from 5.5 percent previously, the Bangko Sentral ng Pilipinas (BSP) told reporters right after the Board meeting.
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