BSP unlikely to raise rates, cut RRR soon

The Bangko Sentral ng Pilipinas (BSP) is unlikely to raise interest rates or cut banks' reserve requirement ratio (RRR) soon as the economy's recovery is still in its early stages.

Governor Benjamin Diokno said that adjusting benchmark interest rates or lenders’ reserve ratios at this time would be counterproductive and hinder economic growth.

Diokno emphasized the need to sustain the current monetary policy accommodation to ensure a strong and sustainable economic recovery.