Bloomberg The Philippine central bank is ready to cut its policy rate to below 3% to support an economy reeling from a “once in a lifetime crisis,” according to Governor Benjamin Diokno. “It is now clear that reverting to where we were in 2018 — policy rate at 3.0% — is no longer an appropriate policy goal,” the governor said ...

Bloomberg JPMorgan Chase & Co will raise mortgage borrowing standards starting Tuesday, Reuters reported, citing Chief Marketing Officer for home lending businesses Amy Bonitatibus. Customers applying for a new mortgage will need a credit score of at least 700 and will be asked to pay 20% of the home’s value as a down payment, according to the report. JPMorgan & ...

Bloomberg The Federal Reserve may not be done with its all-out blitz to help the US economy survive a coronavirus-induced shutdown, even after launching an unprecedented $2.3 trillion in lending programs. The central bank used up only about 40% of the as much as $454 billion in seed capital that Congress provided it in extending help to small and mid-sized ...