The Philippine central bank will likely use quarter-point moves to slash its benchmark interest rate by around 175 basis points through the end of next year, according to Governor Eli Remolona, Bloomberg News reported. A 25 basis-point cut is on the cards for the Oct. 16 policy meeting, followed by a reduction of the same size in December, Remolona said. The Bangko Sentral ng Pilipinas is unlikely to resort to half-point cuts as the economy remains robust, he added.
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