Thursday, December 20, 2007

BSP cuts rates

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Philippine Central Bank (Bangko Sentral ng Pilipinas = BSP)cuts key interest rates

Looks like a bullish signal for the trading day tom.

Good luck to all traders! :)

Philippine c bank cuts key interest rates; eases forex rules
By Rocel Felix, Enrico dela Cruz
Thomson Financial

"MANILA, Philippines -- (UPDATE 2) The Philippine central bank, the Bangko Sentral ng Pilipinas, decided on Thursday to lower its policy interest rates by 25 basis points for the third time in as many months. It also announced another set of measures to ease foreign exchange regulations."

"Policymakers approved a reduction in the overnight interest rates to 5.25 percent for borrowing or the reverse repurchase facility, and to 7.25 percent for lending or for the repurchase facility."

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