BSP finally gives in to rate cut calls amid weak GDP growth, slowing inflation

  MANILA, Philippines --- The central bank on Thursday cut its key interest rates by 25 basis points and, thus, formally began unwinding the tight monetary policy regime it implemented last year to fight high inflation.   Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno -- came into office last March vowing to bring down the cost of money -- cited the recent declines in the inflation rate for the decision of the Monetary Board, which came on the same day the government announced a weaker-than-expected growth for the local economy in the first quarter.   The central bank's first rate cut since its 175-basis point string of rate hikes in 2018 eff...

Keep on reading: BSP finally gives in to rate cut calls amid weak GDP growth, slowing inflation

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