Bangko Sentral ng Pilipinas continues easing with fresh 0.25% cut
BSP Governor Eli Remolona Jr. (Photo by Ian Nicolas P. Cigaral)
MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) on Thursday cut the policy rate by a quarter point, a widely expected move as inflation remains benign.
The decision of the Monetary Board brought the overnight borrowing rate that banks typically use as a guide when pricing loans to 5.25 percent.
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READ: Stage set for fresh BSP rate cut to 5.25%
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The move would also put the total rate reduction under the current cycle at 1.25 percentage points.
The outcome of the BSP meeting was correctly predicted by all 15 economists surveyed by the Inquirer last week.
/rwd
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