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Philippine c.bank says reserve requirement cut still on table

Published 06/29/2020, 10:05 AM
Updated 06/29/2020, 10:10 AM
© Reuters.

MANILA, June 29 (Reuters) - The Philippine central bank said
a cut in the banks' reserve requirement ratio (RRR) is still on
the table even after it has already slashed the benchmark rate
four times this year.
"On the infusion of additional liquidity, we stand ready to
use the full range of monetary tools to implement policy actions
as needed," central bank Governor Benjamin Diokno told ANC news
channel. The central bank still has authority to reduce the RRR
by a further 200 basis points this year.
Diokno also said price stability was the least of the
concerns of the central bank, with inflation seen averaging 2.3%
this year and 2.6% in 2021, both at the low-end of the 2-4%
target. It gave leeway for the central bank to cut rates by 50
basis points last week. P9N2DB00B

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