AS widely expected, the country’s monetary authorities on Thursday resumed trimming key interest rates by 25 basis points (bps) after pausing in June, and adjusted downward its inflation outlook for this year and next.
In a briefing at the Bangko Sentral ng Pilipinas (BSP) complex in Manila, BSP Governor Benjamin Diokno announced that the central bank’s policy-making Monetary Board slashed rates on the overnight reverse repurchase, deposit and lending facilities to 4.25 percent, 3.75 percent and 4.75 percent, respectively.
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