THE Bangko Sentral ng Pilipinas (BSP) policymaking body Monetary Board is expected to be more data-dependent in deciding future rate cuts with the easing cycle anticipated to be gradual, analysts said.
THE Bangko Sentral ng Pilipinas policymaking body Monetary Board is expected to be more data-dependent in deciding future rate cuts with the easing cycle anticipated to be gradual, analysts said.'We believe monetary policy moving forward will now be more data-dependent, wherein each incremental rate cut will depend on what direction inflation goes relative to expectations,' HSBC Global Research economist Aris Dacanay said.
While high interest rates and inflation have dampened consumption momentum, leading to growth below potential, Dacanay said that a substantial economic slowdown was not anticipated to warrant a 50 bps rate cut.'Growth, on the other hand, will determine the size of the rate cut. But as mentioned earlier on, we don't think this will be much of a concern,' Dacanay said.
Anticipate Gradual Easing Cycle
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