Philippine c bank may cut reserve requirements

PHILIPPINES - Philippine Central bank Governor Rafael Buenaventura said today, 27 July, that as the economy picks up later in the year the liquidity reserve requirements of banks would be lowered to channel more funds into the economy.

"If the economy growth picks up and if the economy needs additional liquidity, we will need to adjust it accordingly," Buenaventura told reporters.

Effective Friday, the central bank raised the liquidity reserve requirements of banks from 7% to 9% to drain off

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