Philippines poised to cut rates as inflation cools
Governor Diokno hints at more easing if inflation is under control
Inflation, previously one of the biggest barriers to the Philippine central bank’s monetary easing policy, has cooled to the lowest level in two years, paving the way for rate and reserve requirement cuts.
The South-east Asian country’s headline inflation eased further to 3.8% year-on-year in the first quarter, down from 5.9% in the previous quarter, according to the central bank’s quarterly inflation report, released today, July 19. The latest figure is within the central bank’s 2–4% target
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