BSP cuts policy rate by 0.25 ppt to support lethargic economy
MANILA, Phiippines — The Bangko Sentral ng Pilipinas (BSP) cut its benchmark interest rate by a quarter point on Thursday.
The BSP extended its easing cycle as it tries to shore up an economy weakened by a high-profile corruption scandal.
READ: BSP rate cut urgency builds amid anemic economy
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The move brought the overnight borrowing rate, which banks use as a guide for pricing loans, to 4.25 percent.
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All 13 economists that the Inquirer polled had expected the reduction, saying the economy required additional support after growth slowed to a multiyear low in 2025.
The corruption scandal has eroded business and consumer confidence and stalled government spending, weighing on broader economic activity.
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