Philippine central bank cuts key policy rates

MANILA, Dec. 19 (Xinhua) -- The Philippine central bank Thursday said it decided to cut its target reverse repurchase rate by 25 basis points to 5.75 percent and adjusted the interest rates on the overnight deposit and lending facilities to 5.25 percent and 6.25 percent, respectively.

"Inflation is projected to stay within the target range over the policy horizon," Bangko Sentral ng Pilipinas (BSP) Governor Eli