Off-cycle rate cut to allow government to tap cheaper loans

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The story "Off-cycle rate cut to allow government to tap cheaper loans" was covered 17 hours ago by Business Mirror, a news publisher based in Philippines.

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Off-cycle rate cut to allow government to tap cheaper loans - Business Mirror

Quick Summary:

THE Monetary Board (MB) could opt for an off-cycle reduction in key policy rates to allow the government to tap into cheaper domestic loans, according to Finance Secretary Ralph G.Recto.

The BSP could still cut earlier than the Fed given Recto and Remolona’s openness to an off-cycle rate reduction.

The government aims to borrow P1.923 trillion in 2024 from the domestic debt market and follows a 75:25 borrowing mix in favor of domestic sources.