Philippines Cuts Benchmark Interest Rate by 0.5%P to 2.25%
[Asia Economy Reporter Eunbyeol Kim] The Central Bank of the Philippines (BSP) announced on the 25th that it has decided to lower the benchmark interest rate by 0.5 percentage points from 2.75% to 2.25%.
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BSP has lowered the benchmark interest rate by 0.25 percentage points in February, followed by 0.5 percentage points each in March and April, making this the fourth rate cut this year alone. As a result, the Philippines has reduced the benchmark interest rate by 1.75 percentage points this year.
This content was produced with the assistance of AI translation services.
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