Bangko Sentral cuts benchmark rate by 25 basis points

Bangko Sentral cuts benchmark rate by 25 basis points

The BSP announced that its target reverse repurchase rate, which banks use to set interest rates, is now 4.75 percent.

Philippines Slashes Rate Again as Graft Claims Cloud Outlook

The Philippine central bank cut its key policy rate for a fourth straight time on Thursday in a bid to bolster economic growth. Bangko Sentral ng Pilipinas lowered its benchmark rate by 25 basis points to 4.75% and left the door open to further easing, and warned that corruption allegations surrounding public spending had eroded investor confidence and created concern over the economic fallout from a widening graft probe. “The Monetary Board not…

EMERGING MARKETS-Peso slips as cenbank surprises with rate cut, AI optimism lifts Asia shares

(.) * Philippine peso dips after surprise rate cut * AI rally lifts emerging Asian stock markets * Thai equities rise on dovish central bank stance By Rishav Chatterjee Oct 9 (Reuters) – The Philippine peso weakened a shade while equities slid further after the central bank unexpectedly cut interest rates on Thursday, though stock markets elsewhere in emerging Asia rallied on renewed AI-related buying. The peso slid to 58.165 per dollar while th…

Philippine central bank unexpectedly cuts rates as graft scandal hits confidence

The BSP reduces the overnight target reverse repurchase rate by 25 basis points to 4.75%