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PHILIPPINES: BSP Chief Says August Rate Cut Still a Possibility

PHILIPPINES

Comments from BSP Governor Remolona have been crossing wires. Highlights below (via Reuters News):

  • August 15 still a possibility for rate cuts… It will depend on numbers
  • We will still remain tight but less tight than before
  • We won't do 50bp rate cut at once
  • Possible 25 bps rate cut in august, another 25bps cut later this year
  • Inflation may have peaked in july

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