BSP cuts key rate by 25 bps to boost economy

The Bangko Sentral ng Pilipinas (BSP) cut benchmark interest rates by 25 basis points to 3.75% on February 6, 2020.

This move was aimed at supporting market confidence and shielding the economy from the effects of a deadly coronavirus outbreak and global economic slowdown.

The BSP noted that inflation remained within its target band but acknowledged upside risks such as African swine fever, rice supply issues, and the impact of natural disasters like Typhoon Tisoy and the Taal Volcano eruption.