BSP eases policy and indicates further cuts will be limited
Governor says decision will boost Philippines’ economy amid ‘painful’ governance issues
The Philippines’ central bank cut its policy rate by 25 basis points today (December 11) and indicated that further easing may be limited.
The Central Bank of the Philippines (BSP) said in a statement that it had cut its benchmark rate to 4.5% and that inflation expectations were well anchored. BSP governor Eli Remolona said the cut would revive economic activity at a time when “painful governance issues around infrastructure investments” had weakened government spending, business confidence and
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