Philippine central bank cuts policy rate by 25 bps, as expected

— Reuters

MANILA: The Philippine central bank cut its key interest rate by 25 basis points (bps) to 5.75% on Thursday, its governor said, reducing the overnight borrowing rate for a third straight meeting.

All 24 economists polled by Reuters had expected the Bangko Setnral ng Pilipinas to cut its target reverse repurchase rate by 25 bps. - Reuters