The Philippine central bank will likely end its monetary tightening with one or two more rate increases this quarter that will bring the key rate to around 6 percent, according to its governor. Know more:
The Philippine central bank will likely end its monetary tightening with one or two more rate increases this quarter that will bring the key rate to around 6 percent, according to its governor.
BSP will likely continue raising at its February 16 and March 23 meetings as “inflationary expectations are still high,” Medalla said. Unlike neighbors that used subsidies to fight price pressures, the Philippines leaned heavily on monetary policy, he said. Once the central bank is done increasing rates, a 200-basis-point cut in the reserve requirement ratio from the current 12 percent is on the table, he said. “The moment it’s clear we’re not raising anymore and therefore we will not be confusing the market, then we’ll cut” RRR, most likely before his term ends in the middle of the year.
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