Time to borrow? Historic low interest rates

LOWER RATES. Monetary officials reduced interest rates for the first time since July 2009
The Bangko Sentral ng Pilipinas (BSP) cut interest rates by another 25 basis points to a historic low of 3.75% for overnight borrowing.  It’s a move to help push local investment, expansion activities and consumer spending – putting more money into the Philippine economy during the continuing economic uncertainty in Europe, the US and the Middle East.  This is only the 3rd time the monetary officials cut interest rates since 2009.  The Philippines is Southeast Asia’s best performing economy in terms of GDP growth this quarter, second only to powerhouse China in Asia.  This move can be seen as another way to help push growth.

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