Philippines cuts to 17-year low

The Central Bank of the Philippines has cut its main policy rates by 25 basis points, taking the overnight borrowing rate to new lows of 4.25%.

The move, announced on 28 May, is the fifth consecutive rate cut since December 2008, and brought rates to a 17-year low.

The decision came just hours after the government said the economy shrank by a seasonally-adjusted 2.3% from the previous quarter.

The central bank called on the government to help to stimulate the economy, which has been hit by colla

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: