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THE DEVELOPMENT Bank of Singapore has recommended that the Bangko Sentral ng Pilipinas cut its key policy rates to help spur the economy.

DBS said in its latest discussion paper on the Philippines that a looser monetary policy would be a welcome development for the economy, especially as the BSP had already cut the banks' reserve requirements.

"It now remains to be seen if the central bank will follow up with an interest rate cut, which we think would be helpful in providing stimulus to the weakening economy," DBS said.

The BSP's key policy rates stand at 6 percent for borrowing and 8 percent for lending. The central bank did not change the rates during the Monetary Board's policy meeting last month after implementing a series of rate hikes from June to September.

The Monetary Board is scheduled to meet again on Nov. 20.

• Gov't banks want 50% buffer rule eased
• Asian forex reserves shrink $119B
• American Express now a bank holding firm

• 10-year govt bonds fetch $1.5B
• Govt sees ’09 mining investments at $1B
• SMC: $10M for right to Petron stock
• Group to take over Transco on Thursday
• PDIC eyes new assessment method
• Not a product of creative writing