Philippine central bank cuts policy rate by 25 bps

A security guard standing beside a logo of the Bangko Sentral ng Pilipinas (Central Bank of the Philippines) posted at the main gate in Manila, Philippines. — Reuters

MANILA: The Philippine central bank cut its key interest rate by 25 basis points to 6.25% on Thursday, its governor said.

Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona said the balance of risks for the inflation outlook were tilted towards the downside for 2024 and 2025.