THE Bangko Sentral ng Pilipinas (BSP) could still start easing policy ahead of the US Federal Reserve (Fed) but will not aggressively reduce key rates given current economic growth.
THE Bangko Sentral ng Pilipinas could still start easing policy ahead of the US Fed eral Reserve but will not aggressively reduce key rates given current economic growth.'The Fed might cut in July. There's an analysis for July. So, they could go first, or we could,' BSP Governor Eli Remolona Jr. told reporters on Tuesday.'We could go first, depending on them. If their inflation stubbornly persists, they might not cut,' he added.
'This means the market may even be more adaptive to the central bank statement's forward guidance rather than to the actual stance of monetary policy as defined by its policy rate.'The BSP's less hawkish tone, Guingundo continued, was 'now ushering in a depreciating trend beyond P58 to a dollar.''If the weakness of the peso extends to a year with such magnitude, and with an exchange rate pass through of 0.
May Still Start Cutting Ahead Of Fed
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