In a statement, the BSP said the reduction in the RRR is intended to help ensure stable domestic liquidity and credit conditions.
“This operational adjustment is in line with the BSP’s ongoing efforts toward a more active and flexible approach to liquidity management through market-based monetary operations,” the central bank said. An example is the inaugural offering, scheduled also on June 30, of the 56-day BSP Bill that serves as an additional instrument for absorbing system liquidity.
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