The Bangko Sentral ng Pilipinas (BSP) has cut its key interest rate by 25 basis points to 5.00%, marking the third consecutive rate reduction this year and the sixth cut in the current easing cycle. This move brings the benchmark rate to its lowest level in nearly three years and aligns with market expectations. The central bank's decision aims to support the Philippine economy amid mounting global headwinds. Looking ahead, the BSP governor indicated that interest rates are expected to remain steady over the next 12 months, provided economic data remains stable. The BSP also emphasized that it will not target foreign exchange rates and does not intend to mirror U.S. Federal Reserve policy decisions, focusing instead on maintaining overall economic stability.