The Monetary Board (MB), in its meeting dated 19 March 2020, decided to reduce the policy rate by 50 basis points and approved the temporary reduction in the term spread on Peso rediscounting loans relative to BSP’s overnight lending rate to zero. As such, the applicable rediscount rate for loans under the Peso Rediscount Facility has been set at 3.75 percent, regardless of loan maturity (i.e., 1- 180 days).
The said Peso rediscount rate shall be effective for a period of 60 days from 20 March 2020 or until 19 May 2020, subject to further extension as may be approved by the MB.
Meanwhile, the applicable rediscount rates for loans under the Exporters’ Dollar and Yen Rediscount Facility (EDYRF) for the month of March 2020, remain as follows:
Source: Bangko Sentral ng Pilipinas (BSP)