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BSP cuts interest rates anew as inflation stays low

By: - Reporter / @daxinq
/ 06:19 PM September 26, 2019

The central bank on Thursday, Sept. 27, reduced interest rates anew citing low inflation rate.

In a press briefing, Bangko Sentral ng Pilipinas (BSP) Gov. Benjamin Diokno said the 25-basis point cut in key overnight rate, the third this year, was due to easing consumer prices.

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“Price pressures have eased further,” said Diokno.

Inflation, he said, was likely to stay low between 2019 and 2021.

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Starting on Friday, Sept. 27, BSP’s overnight reverse repurchase facility will be reduced to to 4 percent.

August inflation was just 1.7 percent, the lowest in three years./tsb

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TAGS: BSP, central bank, Inflation, interest, pressures, Prices, rates
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