The central bank is committed to trimming further its key policy rates and banks’ reserve requirement ratio (RRR) to cushion the impact of coronavirus disease 2019 (Covid-19) crisis to the economy, Bangko Sentral ng Pilipinas Governor (BSP) Benjamin Diokno assured.
In a text message to reporters on Sunday, Diokno reiterated that the central bank’s policy-making Monetary Board authorized him to cut the RRR by a total of 400 basis points (bps) this year.
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