Economist: Early BSP rate cut could lead to fewer investments for PH | ABS-CBN
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Economist: Early BSP rate cut could lead to fewer investments for PH
ABS-CBN News
Published Jun 21, 2024 02:11 PM PHT
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MANILA -- An economist at local lender RCBC said the Bangko Sentral ng Pilipinas (BSP) should not cut rates ahead of the US Federal Reserve.
MANILA -- An economist at local lender RCBC said the Bangko Sentral ng Pilipinas (BSP) should not cut rates ahead of the US Federal Reserve.
RCBC economist Mike Ricarfort said this after the BSP signalled that it could start to ease monetary settings in August, ahead of the Fed which is expected to cut rates in September, at the earliest.
RCBC economist Mike Ricarfort said this after the BSP signalled that it could start to ease monetary settings in August, ahead of the Fed which is expected to cut rates in September, at the earliest.
The two central banks kept policy rates steady in their latest policy meetings.
The two central banks kept policy rates steady in their latest policy meetings.
If the BSP cuts rates, the rate differential between the Philippines and the US will go below 100 basis points--a scenario that Ricafort said could lead to fewer investments in the Philippines.
If the BSP cuts rates, the rate differential between the Philippines and the US will go below 100 basis points--a scenario that Ricafort said could lead to fewer investments in the Philippines.
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The BSP is meeting next week to discuss policy rates.
The BSP is meeting next week to discuss policy rates.
--ANC, 21 June 2024
--ANC, 21 June 2024
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