(Bloomberg) -- The Philippine peso and bonds rose
after the central bank allowed higher interest rates on large
deposit accounts, while lowering its key borrowing cost.
Five-year debt gained a second day after Bangko Sentral ng
Pilipinas lowered the reverse repurchase rate by 1.5 percentage
points to 6 percent, the first cut since July 2003. The central
bank also ended so-called tiering, a system that encourages
banks to lend by paying them lower rates for larger deposits.
Read more at Bloomberg Bonds News
after the central bank allowed higher interest rates on large
deposit accounts, while lowering its key borrowing cost.
Five-year debt gained a second day after Bangko Sentral ng
Pilipinas lowered the reverse repurchase rate by 1.5 percentage
points to 6 percent, the first cut since July 2003. The central
bank also ended so-called tiering, a system that encourages
banks to lend by paying them lower rates for larger deposits.
Read more at Bloomberg Bonds News
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