BSP lowers peso rediscount rate
MANILA, Aug 1 (PIA) -- The Bangko Sentral ng Pilipinas (BSP) has lowered the rates for its peso rediscount facility to 3.75 percent per annum, a statement posted on its website (bsp.gov.ph) said.
The BSP said the rediscount rate is based on the applicable overnight reverse repurchase rate.
It said the repurchase rate, which took effect July 30, is based on Circular No. 679 dated February 1, 2010.
It said the new rate is also in line with the Monetary Board's policy decision to reduce policy rates which the body agreed upon during a recent meeting. (BSP/RJB/JCP-PIA NCR)
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