Local Banks Begin Raising Loan Rates
Recent monetary policy moves are having their desired effect on the economy, with banks slowly but steadily becoming less aggressive in pushing loans to both households and businesses, regulators said this week.
Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco Jr. said banks have started to hike interest rates on loans to account for the central bank’s own move to raise rates.
Source: Philippine Daily Inquirer
