Philippines Cuts Rediscounting Budget, Keeps Rate at Record Low
March 11, 2010, 3:43 AM ESTBy Karl Lester M. Yap
March 11 (Bloomberg) -- The Philippine central bank cut the amount of money available for loans to lenders through its so- called rediscounting facility to reduce cash in the economy, even as it kept the benchmark interest rate at a record low.
To contact the reporter on this story: Karl Lester M. Yap in Manila at kyap5@bloomberg.net
To contact the editor responsible for this story: Stephanie Phang at sphang@bloomberg.net
