Bangko Sentral: Policy moves aim to build credit lines for consumers

ABS-CBN News

Posted at Jun 08 2020 11:11 AM

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MANILA - The Bangko Sentral ng Pilipinas said Monday it reduced the key interest rate and the reserve requirement ratio for banks to encourage more lending during the coronavirus pandemic. 

With lower borrowing costs and more cash freed up in the system, banks can provide more loans, a potential lifeline for struggling consumers and businesses, BSP Governor Benjamin Diokno said.