Business News

Commercial banks to expect competition when BPNG opens Tap Facility

The Central Bank of Papua New Guinea’s Tap Facility will be open this Thursday with the bank investing 200 million kina into this new concept.

This tool is being introduced to manage liquidity and to maintain price stability.

Commercial banks can expect some competition when this facility is opened as interest rates for deposits here will be higher compared to banks.

*Watch News Story on video.

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