MANILA, Philippines --- The central bank on Thursday moved to release more liquidity into the Philippine financial system amid an environment of declining inflation and lower economic growth in the first quarter of 2019. In a message to the press, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said the amount of cash banks are required to immobilize in their vaults will be reduced by 200 basis points in three stages over the next three months. "The Monetary Board decided to reduce the reserve requirement ratio from 18 percent to 16 percent," he said via SMS. Once complete, the reduction in bank reserves will release as much...
Keep on reading: PH growth boost seen as BSP orders 3-stage bank reserve cut
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