14 hours ago
Philippine central bank cuts rates to boost economic growth
The Philippine peso, which in April was stronger than it had been since August 2023, has allowed Bangko Sentral ng Pilipinas to further ease its monetary policy. © Reuters
RAMON ROYANDOYAN
MANILA -- The Philippine central bank on Thursday trimmed its benchmark rate by 25 basis points as it moved to support economic growth, wielding policy flexibility recently gained from the deceleration of inflation.
With the cut, Bangko Sentral ng Pilipinas brought the overnight repurchase rate to 5.25%.
