THE Monetary Board could cut rates at its April meeting, with receding inflation giving it space to ease monetary policy, a former Bangko Sentral ng Pilipinas (BSP) official said.
GlobalSource Partners Country Analyst Diwa C. Guinigundo, a former deputy governor, told reporters on Wednesday: “I think the BSP has a space to cut. One, the actual inflation rate of 2.1% in February. And then in January, 2.9. — so that’s 2.5 average. That is within the target of 2-4%. So on that basis, they have a reason.”
BSP Governor Eli M. Remolona, Jr. said the monetary authorities are still in easing mode, after an unexpected decision to keep the benchmark rate steady last month at 5.75% amid “global trade uncertainties.”
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