MANILA: The Philippine central bank cut its benchmark interest rate by 50 basis points on Thursday ahead of a May 21 policy meeting, this year’s latest reduction aiming to counter the economic impact of the coronavirus pandemic.
The cut takes the rate on the bank’s overnight reverse repurchase facility to 2.75% with effect from Friday. -Reuters
source https://www.thesundaily.my/business/philippines-c-bank-unexpectedly-cuts-policy-rate-by-50-bps-AY2265211
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