The Philippines' central bank unexpectedly reduced its key interest rates by 25 basis points on Thursday amid benign inflation and weakening growth outlook.
The Monetary Board decided to reduce the Bangko Sentral ng Pilipinas' target reverse repurchase rate by 25 basis points to 4.50 percent. The bank was expected to retain its rate at 4.75 percent.
Accordingly, the interest rates on the overnight deposit and lending facilities were adjusted to 4.00 percent and 5.00 percent, respectively.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.