THE Bangko Sentral ng Pilipinas (BSP) will still likely start cutting interest rates this year, but the timing has become more critical given the peso's recent decline, analysts said.
THE Bangko Sentral ng Pilipinas will still likely start cutting interest rates this year, but the timing has become more critical given the peso's recent decline, analysts said.The currency fell to an 18-month low of P58.27 against the dollar on Tuesday, and the central bank's having signaled a readiness to start easing, to the extent of moving ahead of the US Federal Reserve, was said to have been a factor.Following the drop, Security Bank Corp.
'Whether or not we will see rate cuts in August or October, it appears that the worst could be over for the local market, with central banks easing sometime in 2024 and bonds likely finally enjoying a recovery after months of battling uncertainty,' Mapa said.
Of BSP Cuts Uncertain Analysts
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