MANILA -- The Philippines' central bank slashed its key interest rate by 25 basis points on Thursday to stimulate economic growth and counteract the global slowdown's dampening effects on the domestic economy.
Markets
Philippines extends aggressive easing cycle to boost economy
Rate cut flagged by governor comes amid slowing inflation and trade headwinds
Bangko Sentral ng Pilipinas Gov. Eli Remolona signaled earlier in August that a rate cut was "quite likely." (Photo by Yuichi Shiga)
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