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Economy

Philippines cuts key rate to shield economy from coronavirus

Viral outbreak prompts 'preemptive' measure, despite healthy economy

Despite economic headwinds, Manila is cautiously optimistic about meeting this year's growth target.   © Reuters
CLIFF VENZON, Nikkei staff writer | Philippines

MANILA -- The Philippine central bank cut the benchmark interest rate by 25 basis points on Thursday to help shield the economy from the effects of the coronavirus outbreak and a recent volcano eruption.

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