MANILA -- The Philippine central bank decided to cut its key policy rate by 25 basis points during a policy meeting on Thursday, kicking off a much-awaited loosening cycle to support the economy.
The first rate cut since November 2020 came with market expectations coming in across a wide divide. According to a Reuters poll released on Tuesday, 13 of 24 economists projected the bank to stand pat, with the remainder expecting a rate cut.
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