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Philippines cuts key rate and hints at more easing as economy slows

Moves comes after India, Thailand and New Zealand eased on Wednesday

The cut confirms a change in direction by the central bank, after it last year raised its policy rate by 175 basis points to 4.75%, its highest level in a decade.   © Reuters

MANILA -- The Philippine central bank slashed its key interest rate on Thursday and hinted at further easing, just hours after data showed the economy had grown at its slowest rate in more than four years in the second quarter.

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