Coming soon: monetary easing

PHILIPPINES - In Brief 12 Mar 2019 by Romeo Bernardo

In a one-on-one interview with the country’s best-known business journalist on television, the new BSP Governor Benjamin Diokno noted that falling local inflation plus the more dovish stance of developed economies’ central banks provide room for monetary easing, especially following last year’s 175bp cumulative interest rate hike. However, he declined to say whether or not interest rate cuts are in store this year. Instead, what he said was that monetary easing will be done through cuts in the reserve requirement ratio (RRR) on bank deposits. Depending on data, he said that “it could be 1pp...

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