Close  

BSP: Interest rate cut ‘closed’, bank reserve reduction ’still open’

By: - Reporter / @bendeveraINQ
/ 03:25 PM October 08, 2019

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno on Tuesday, Oct. 8, said there will be no more policy rate cut this year even as banks’ reserve requirement ratio (RRR) may still be reduced before 2019 ends.

On the sidelines of The Asset’s 14th Philippine Forum, Diokno said “it’s closed” or it was over for the BSP in terms of any further reduction in key interest rates.

ADVERTISEMENT

The BSP’s policy-setting Monetary Board will still have two more meetings to discuss the monetary policy stance this year, scheduled on Nov. 14 and Dec. 12.

As for the RRR, Diokno said “it’s still open” or there remained a possibility that it would be further cut by December.

FEATURED STORIES

Diokno said they would consider third-quarter gross domestic product (GDP) growth data, the November inflation rate, and the International Monetary Fund’s (IMF) World Economic Outlook (WEO) report to be released this month, before deciding whether or not to again slash the RRR. /TSB

Read Next
LATEST STORIES
MOST READ
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: banks, BSP, central bank, interest, monetary board, monetary policy, Rate cut, reserve requirement
For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2019 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.