Xinhua Asia-Pacific news summary at 1600 GMT, Oct. 26

MANILA -- The Philippine central bank decided on Thursday to take off-cycle action to raise the bank's target reverse repurchase rate by 25 points to 6.50 percent and the interest rates on the overnight deposit and lending facilities to 6 percent and 7 percent, respectively.

"The Monetary Board recognized the need for this urgent monetary action to prevent supply-side price pressures from inducing additional sec