Strict measures: Manila policemen in personal protective equipment. The Philippines has introduced moves to sustain its economy. — Reuters
MANILA: The Philippine central bank has cut its benchmark interest rate in an unscheduled move, seeking to keep the economy afloat amid the coronavirus outbreak.
The Bangko Sentral ng Pilipinas (BSP) lowered its key rate by 50 basis points (bps) to 2.75%, governor Benjamin Diokno said in a mobile-phone message to reporters yesterday. Policy makers were scheduled to make their next interest rate decision on May 21.
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