In a speech during The Manila Times 11th Business Forum in Makati City, Diokno enumerated external risks to the country’s growth in 2020 and over the medium term, including a synchronized global economic slowdown, retreat to multilateralism, rising geopolitical tensions and the coronavirus disease 2019 outbreak.|
“Robust monetary, financial and external sectors are expected to continue to lend support to the country’s growth despite external threats and domestic challenges,” he added. Its inflation expectations, he added, allowed monetary authorities to implement a total of 75 basis points cut in the country’s interest rates last year and another 25 bps cut on February 6 this year.
Diokno said Philippine banks’ capital adequacy ratios — both on a solo and consolidated bases — continue to be well above regulatory and international standards.
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