— Bloomberg
MANILA: The Philippine central bank cut its policy rate by 25 basis points to 5.25%, its governor announced on Thursday, taking the rate to its lowest level in two-and-a-half years.
A Reuters poll showed 22 out of 25 economists had forecast the Bangko Sentral ng Pilipinas to lower its target reverse repurchase rate. The rest expected rates to stay unchanged at 5.50%.
