Economics
Philippines May Cut Rate as Currency Gains Threaten Exports
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The Philippines will probably cut interest rates for a fourth time this year, joining nations from South Korea to Thailand in easing monetary policy to protect growth as the peso’s gains threaten exports.
Bangko Sentral ng Pilipinas will reduce the rate it pays lenders for overnight deposits by a quarter of a percentage point to 3.5 percent, according to 14 of 21 economists surveyed by Bloomberg News ahead of a decision tomorrow. The rest expect the benchmark to be left unchanged at 3.75 percent.