MANILA — The Philippine central bank cut its key interest rate by 25 basis points (bps) to 5.75% on Thursday, its governor said, reducing the overnight borrowing rate for a third straight meeting.
All 24 economists polled by Reuters had expected the Bangko Sentral ng Pilipinas to cut its target reverse repurchase rate PHCBIR=ECI by 25 bps.
—Reporting by Neil Jerome Morales and Mikhail Flores; Editing by John Mair
