BSP seen to deliver 50-bps rate cut in Q4

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THE expected decline in commodity prices could prompt the Bangko Sentral ng Pilipinas (BSP) to implement an additional 50-basis-point (bps) reduction in key policy rates in the last quarter of the year.

He said the RRR cut may have injected P450 billion into the economy allowing banks to extend more loans and to business and households,  but these firms and households are “reluctant to take in credit due to the high cost of borrowing, leading to banks parking their money in the BSP.“We continue to expect the BSP to follow a data-dependent approach.

Recto said inflation is expected to ease to 2.5 percent this month from 3.3 percent last August. However, some uptick is expected in the run up to the Christmas season.

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Author / Journalist: Samuel P. Medenilla and Cai U. Ordinario

Category: BusinessStartups

Markets: PhilippinesIndiaIndonesiaMalaysiaTaiwanThailandUnited States

Topics: Inflation Monetary Policy Banks Year Rates Percent Expected Rate Continue Central

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-24 @ 16:24:00 (5 days ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 996 words

Reading Time: 6 minutes read

Sentences: 33 lines

Sentence Length: 31 words per sentence (average)

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Copyright Owner: © Business Mirror

News ID: 22700015

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