WITH consumption hurting the country’s recent economic performance, analysts said the Bangko Sentral ng Pilipinas (BSP) is expected to start cutting rates as early as the third quarter.
WITH consumption hurting the country’s recent economic performance, analysts said the Bangko Sentral ng Pilipinas is expected to start cutting rates as early as the third quarter.
High interest rates, BMI noted, caused a decline in investments in the first three months of the year. The tight monetary policy made borrowing costs soar. BPI expects the BSP to start easing monetary policy by the third or fourth quarter. If inflation stabilizes and the Fed cuts rates, this will convince monetary authorities to reduce key interest rates.
BPI said that based on its observations, the Philippine peso tends to strengthen when the Fed eases monetary policy. It added that capital-intensive industries have also seen expansion such as real estate, manufacturing, and utilities. This, BPI said. could reflect an increase in their capital expenditures.
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