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Philippine CB Raises Key Rate For First Time Since 2014

The Philippine central bank raised its benchmark interest rate from a record low for the first time in nearly four years, in a bid to rein in inflation. The Monetary Board of the Bangko Sentral ng Pilipinas, led by Governor Nestor Espenilla, on Thursday raised the key interest rate, which is the overnight reverse repurchase rate, by 25 basis points to 3.25 percent.
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