Fourth Filipino Central Bank Rate Cut of 2020
June 25, 2020
At the Central Bank of The Philippines, the key overnight reverse repo rate was reduced by 50 basis points to 2.25%. Such had been also cut by a half percentage point in both March and April and by 25 basis points back in February. Officials released a statement, identifying a deterioration in global GDP conditions and predicted recovery will be protracted and uneven. They remain committed to using the full range of monetary tools to counter the downturn and promote recovery.
Copyright 2020, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
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