Central Banks
Philippines Is Set to Cut Key Interest Rate a Third Time
- Rate has been reduced by total 50 basis points since August
- Manila has tempered its economic growth outlook for this year
The Philippine central bank is widely expected to deliver its third interest rate cut this year with inflation under control.
Most of the 25 analysts surveyed by Bloomberg predict the Bangko Sentral ng Pilipinas will reduce its overnight target reverse repurchase rate by 25 basis points to 5.75% on Thursday. One economist projected a 50-basis point reduction and another sees the rate unchanged at 6%.