MANILA - The worst is over for the pandemic-hit Philippine economy, and a "remarkable rebound" is expected this year, the head of the Bangko Sentral ng Pilipinas said on Tuesday.
The country meanwhile booked FDI net inflows amounting to $423 million in October last year, albeit 24.5 percent lower than the $561 million net inflows recorded in the same month in 2019, the BSP said. The BSP delivered five interest rate cuts totaling 200 basis points last year, with the benchmark overnight reverse repurchase facility rate at a record low of 2 percent, making it among the world's most aggressive in policy easing.
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