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Philippine c.bank says next policy rate cut may happen in Q2

Published 02/14/2020, 05:14 PM
Updated 02/14/2020, 05:16 PM
Philippine c.bank says next policy rate cut may happen in Q2

MANILA, Feb 14 (Reuters) - The Philippine central bank is
not in a hurry to reduce interest rates, with the next 25 basis
point cut to happen in the second quarter or in the second half
of the year, its governor said on Friday.
"We are happy where we are now", Bangko Sentral ng Pilipinas
Governor Benjamin Diokno told reporters.
The central bank cut its interest rates PHCBIR=ECI by 25
basis points on Feb. 6, the fourth such move since it began
unwinding policy rate hikes totaling 175 basis points in 2019,
to support growth. Diokno repeated that he "promised 50 bps cut this year".

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