Philippines Cuts Key Rate Again as Inflation Stays Below Target
The Philippine central bank lowered its key interest rate by a quarter point for the second time this year as widely expected, after inflation remained below target.
The Bangko Sentral ng Pilipinas reduced its overnight target reverse repurchase rate to 5.25% on Thursday, matching the forecast by 29 of 30 economists in a Bloomberg survey. One saw a hold.
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