The most famous and widely used interest rate benchmark around the world is the London Interbank Offered Rate, or LIBOR, which is calculated based on the interest rates of interbank transactions in London.
1/5  BIS central bankers' speeches  As the principal driver of the NSFI, the BSP serves as Chair of the 17-agency Financial Inclusion Steering Committee (FISC) which adopted MSMEs and agriculture as priority sectors. This is because we recognize the immense potential and unique challenges of MSMEs. Together with agriculture, MSMEs form the backbone of the Philippine economy.