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Philippine c.bank chief says committed to 50 bps of rate cuts this year

Published 02/06/2020, 01:37 PM
Updated 02/06/2020, 01:40 PM
Philippine c.bank chief says committed to 50 bps of rate cuts this year

MANILA, Feb 6 (Reuters) - The Philippine central bank chief
said on Thursday he was committed to cutting the key interest
rate PHCBIR=ECI by 50 basis points this year, in remarks hours
ahead of a policy meeting later in the day.
"I am committed to 50 bps this year. When? We will have to
look at that," Bangko Sentral ng Pilipinas Governor Benjamin
Diokno told a business forum.
The central bank is expected to cut rates on Thursday,
taking advantage of moderate inflation to buttress the economy
against the negative impact of the spreading virus outbreak, a
Reuters poll showed.

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