The Philippine central bank on Thursday decided to cut its policy interest rates by a quarter point as expected by economists to support economic activity and reinforce confidence.
The Monetary Board of the Bangko Sentral ng Pilipinas decided to reduce the overnight borrowing or reverse repurchase to 4 percent from 4.25 percent and the overnight lending or repurchase rate to 6 percent from 6.25 percent, effective immediately.
This rate cut follows the 25-basis-points reduction in policy rates that was implemented in January of this year. Policy makers said the benign inflation outlook allowed further scope for a measured reduction in policy rates.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.