BSP cuts policy rates by 25 basis points

February 6, 2020

The Monetary Board, policymaking body of the Bangko Sentral ng Pilipinas (BSP) cut policy rates by 25 basis points during its meeting on Thursday.

In a televised announcement, BSP  Governor Benjamin Diokno said the Monetary Board noted that spread of the 2019 novel coronavirus could affect economic growth and market sentiment.

''Given that, and other consideration, the Monetary Board believes a policy rate cut provides additional policy support to ward off potential effects of such risks,'' said Diokno. DMS