INTEREST rate cuts are likely to be ordered before the year ends once inflation is firmly within target, a senior Asian Development Bank (ADB) official said last week.
INTEREST rate cuts are likely to be ordered before the year ends once inflation is firmly within target, a senior Asian Development Bank official said last week.'The Bangko Sentral ng Pilipinas is expected to ease its monetary stance in the second half of this year when inflation stabilizes within its 2.0 to 4.0 percent target range,' ADB Country Director Pavit Ramachandran told reporters on Friday.The central bank's benchmark rate currently stands at an over 17-year high of 6.
Consumer price growth in the wider region is also expected to slow, and the ADB noted in the July update to its Asian Development Outlook that prices of key food items such as meat, fish, pork, short mackerel, sea bass and fresh vegetables had fallen due to increased supplies.Policy rate cuts and easing inflation, Ramachandran said, could boost household spending and capital expenditures and thereby boost economic growth.
Bangko Sentral To Start Cutting In H2
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