MANILA, March 24 (Reuters) - The Philippine central bank
announced a 200 basis points reduction in the reserve
requirement ratio (RRR) on Tuesday to calm financial markets and
boost lending.
Bangko Sentral ng Pilipinas Governor Benjamin Diokno said,
the cut, which will take effect on March 30, will ensure there
is sufficient liquidity to counter the economic impact of the
coronavirus outbreak. The cut will bring the ratio to 12%.