Bangko Sentral ng Pilipinas Governor Benjamin Diokno says markets can expect a cut in interest rates worth at least 50 basis points, while the central bank will be less aggressive in trimming the reserve requirement for banks.
Bangko Sentral ng Pilipinas Governor Benjamin Diokno said cuts in the reserve requirement for banks in 2020 would not be as aggressive as this year.
. The succession of rate cuts would unwind tightening moves introduced in 2018, when monetary policy makers had to raise borrowing rates to curb surging inflation., coming from hitting near-decade highs last year. The concrete projections in rate cuts are a departure from previous central bank officials who would only say that they will remain"data dependent" in setting benchmark yields.
"While price volatilities cannot be ruled out, inflationary impulses from international commodity prices are expected to remain modest," the BSP said. for universal and commercial lenders, referring to the share of deposits which banks must keep intact in their vaults.
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