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NEW UPDATES Asean Affairs  6 August 2015  

Interest-rate corridor framework for Philippines

THE Philippine central bank plans to use an interest-rate corridor framework in setting monetary policy starting next year to better manage liquidity in the financial system, a central bank official said on Tuesday.

Describing it as a “major reform” in policy setting, Bangko Sentral Deputy Governor Diwa Guinigundo told a business forum the interest rate corridor system will “align our open market operations with liquidity needs of the market and further strengthen the transmission channels of monetary policy”.

The system will make use of three separate interest rates to give the central bank greater flexibility in responding to the needs of the domestic economy.

The overnight lending or repurchase window, currently at six per cent, will serve as the ceiling and the special deposit account rate (SDA), currently at 2.5 per cent, will serve as the floor. The overnight borrowing or policy rate in the middle is currently at four per cent.

BSP Governor Amando Tetangco in an interview with Reuters on July 22 said authorities were discussing the operational aspects of the interest rate corridor framework, which he said will “guide money market rates closer to the policy rate”.

The framework will have to be approved by the central bank’s policy-making Monetary Board.

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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