BSP: Take advantage of favorable lending rates

Now is a good time for consumers and corporations to borrow money as the Bangko Sentral ng Pilipinas (BSP) reported lending rates at 7.5 percent since the start of the year despite the global economic crisis.

Bank lending rates have risen to 7.5 percent last year but have remained stable at the 7.8-percent average as of January to mid-March this year. Two years ago, lending rates hit its lowest point at an average of 6.8 percent.

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