February 6, 2020 / 8:06 AM / 14 days ago

Philippine c.bank cuts policy rate by 25 bps, as expected

MANILA, Feb 6 (Reuters) - The Philippine central bank trimmed its key interest rate by 25 basis points to 3.75% on Thursday as expected, the fourth such move since it started unwinding policy tightening last year to support growth.

Nine of 11 economists in a Reuters poll predicted a 25-point cut, with the two dissenters forecasting no change in policy rates.

Inflation accelerated to an eight-month high in January at 2.9%, but was still inside the central bank’s target range of 2%-4%. (Reporting by Karen Lema and Neil Jerome Morales; Editing by Jacqueline Wong and Alex Richardson)

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