The Bangko Sentral ng Pilipinas (BSP) on Monday will implement new rediscount rates following the Monetary Board’s Aug. 15 decision to cut the key interest rate by a quarter-point to 6.25 percent.
The overnight deposit and lending facilities were set at 5.75 percent and 6.75 percent, respectively.
Based on the new overnight lending rate, the peso rediscount facility rates will be 7.51 percent for loans maturing in one to 90 days and 7.78 percent for those maturing in 91 to 180 days.
The rediscount rates for the exporters’ dollar and yen facilities remain unchanged at 7.74 percent for the dollar and 2.33 percent for the yen for loans maturing in one to 90 days. For loans maturing in 91 to 180 days, the rates are 7.74 percent for the dollar and 2.38 percent for the yen. For those maturing in 181 to 360 days, the rates are 7.74 percent for the dollar and 2.49 percent for the yen.
The BSP said the dollar and yen rediscount rates are based on applicable benchmark rates.
Be the first to comment