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BSP: Governor Prefers ‘Baby Steps’ in Adjusting Policy Rate. 

BSP
GlobalEM BulletPhilippinesBulletAPACEmerging Market NewsRegion
  • Following the announcement of a further 25bp easing in monetary policy, the Governor of the Central Bank Eli Remolona said that they will keep a ‘measured approach’ in the easing cycle.
  • Remolona said “We prefer to take baby steps in terms of adjusting the policy rate, meaning 25bps at a time – but not necessarily every quarter or at every meeting.”
  • Of the 25 survey respondents on BBG, every economist predicted that the Central Bank would cut rates yesterday by at least 25bps.
  • The Philippines has seen inflation moderate to within the Central Bank’s target and forward looking expectations are supportive of yesterday's cut. 
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  • Following the announcement of a further 25bp easing in monetary policy, the Governor of the Central Bank Eli Remolona said that they will keep a ‘measured approach’ in the easing cycle.
  • Remolona said “We prefer to take baby steps in terms of adjusting the policy rate, meaning 25bps at a time – but not necessarily every quarter or at every meeting.”
  • Of the 25 survey respondents on BBG, every economist predicted that the Central Bank would cut rates yesterday by at least 25bps.
  • The Philippines has seen inflation moderate to within the Central Bank’s target and forward looking expectations are supportive of yesterday's cut.