Philippines cbank has scope for 50 bps rate cut, but 25 bps will be norm, governor says

Quick Summary:

MANILA: The Philippines central bank has scope to do a 50-basis-point rate cut in one policy meeting, but such a big reduction would only happen if there are worries about a hard landing, its governor said on Monday (Sep 30).

He also said the BSP has moved its rate-setting meeting to Oct 16 from Oct 17 because of a scheduling issue.

"A benchmark yield curve will help in the pricing of bank loans and corporate bonds, and thus strengthen the transmission mechanism for monetary policy," Remolona said.

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Article Details

Category: EconomyBusiness

Markets: SingaporePhilippines

Topics: Reduction Bangko Meeting Philippines Landing Sentral Remolona Bank Pilipinas Rate Policy

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-30 @ 18:30:00 (17 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 351 words

Reading Time: 2 minutes read

Sentences: 12 lines

Sentence Length: 30 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 22789297

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