SLOWING inflation has given the Bangko Sentral ng Pilipinas (BSP) room to pursue a measured easing of monetary policy, its top official said.
SLOWING inflation has given the Bangko Sentral ng Pilipinas room to pursue a measured easing of monetary policy, its top official said.In an interview with Global Finance magazine that came out on Tuesday, central bank Governor Eli Remolona Jr. said even if some risks materialize, inflation would average 3.3 percent this year, 2.9 percent in 2025 and 3.3 percent the year after that, within the 2.0- to 4.0-percent target range.
'Remolona also noted that the market reaction to having acted earlier than the Fed was 'relatively muted,' with the peso only weakening slightly immediately after and since gaining against the dollar.The US central bank outdid the BSP, however, by announcing a jumbo 50 bps cut, which has prompted Remolona to change his mind about just one more 25 bps reduction this year to two instead.
Sees Room For 'Calibrated' Easing
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