Central Banks
Philippines Central Bank Cuts Policy Rate as Consumption Ebbs
- BSP’s quarter-point rate cut is first in almost four years
- Policymakers confident of inflation cooling: Remolona
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The Philippines cut interest rates for the first time in almost four years and signaled more to come, as policymakers look to preserve the momentum of economic growth.
The Bangko Sentral ng Pilipinas reduced the target rate by 25 basis points to 6.25% on Thursday, as expected by 13 of 23 economists in a Bloomberg survey. The rest had seen no change.