“ too early to speculate. Let the market process what BSP has done this year,” BSP Governor Benjamin E. Diokno said Tuesday when asked if the Monetary Board will give verbal assurance to expect policy actions as early as the first quarter 2020.
Central bank officials said inflation for 2019 has “likely bottomed out in October” and could “start to pick up slightly in the remaining months of 2019 as base effects start to dissipate.” The BSP has cut interest rates three times for a total 75 basis points this year. The first rates’ reduction was on May 9, followed by another on August 8 and the last one on September 26. As for reserves requirement ratio , which the BSP views as an operational adjustment, the Monetary Board on May 23 decided to slash 200 bps off the RRR in three phases or until July 28.
Source: News Formal (newsformal.com)
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