Philippine Central Bank Lowers Key Interest Rate to 3.75%

[Asia Economy Reporter Changhwan Lee] The Central Bank of the Philippines lowered the benchmark interest rate by 0.25 percentage points from 4.00% to 3.75% on the 6th.

According to Bloomberg, the Central Bank of the Philippines held a monetary policy meeting on the day and decided to cut the benchmark interest rate accordingly.

The rate cut is interpreted as a measure to respond to the economic recession in the Philippines.