BSP gov to lower RRR when time is right

September 28, 2023 - 5:18 PM
(Photo from BusinessWorld)

 The Philippine central bank will further reduce banks’ reserve requirement ratio when the time is right, as it is just a distortion to financial intermediation, its governor said on Thursday.

But Bangko Sentral ng Pilipinas Governor Eli Remolona said in an economic briefing now is not yet the time as the central bank is still in a tightening cycle.

 — Reporting by Neil Jerome Morales