The Philippine central bank unexpectedly lowered its benchmark rates for the first time in nearly four years and hinted at more easing amid well-anchored inflation expectations.
The monetary board of the Bangko Sentral ng Pilipinas governed by Eli Remolona reduced the target reserve repurchase rate by 25 basis points to 6.25 percent. Markets were expecting a hold.
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by Renju Jaya
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