A reduction in interest rates is likely to come first before the banks’ reserve requirement ratio (RRR) is trimmed, according to Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno.
“Palagay ko mauuna ‘yung interest rate cut bago [ang] reserve requirement (I think the interest rate cut will come first before the reserve requirement is eased),” Diokno said on the sidelines of the 2019 Awards Ceremony and Appreciation Lunch for BSP Stakeholders at the central bank’s headquarters in Manila on Wednesday.
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