THE Philippine central bank on Thursday (May 16) signalled it could cut interest rates as early as August driven by recent inflation and growth numbers, after it kept its key policy rate steady for a fifth straight meeting. The Bangko Sentral ng Pilipinas (BSP) said its policy-making monetary board voted to keep its target reverse repurchase rate unchanged at 6.50 per cent, which was correctly predicted by all 23 economists in a Reuters poll. “We are somewhat less hawkish than before,” BSP governor Eli Remolona told a press conference, adding that it was possible rates could be cut in August, ahead of major central banks, including the US Federal Reserve.   https://www.businesstimes.com.sg/international/philippine-central-bank-signals-august-rate-cut-after-leaving-policy-unchanged   (ICE SINGAPORE)

Fonte notizia: The Business Times, 16 May 2024