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Philippine c.bank may consider more rate, RRR cuts to support growth

Published 02/27/2020, 03:51 PM
Updated 02/27/2020, 03:56 PM
Philippine c.bank may consider more rate, RRR cuts to support growth

MANILA, Feb 27 (Reuters) - The Philippine central bank will
consider more cuts in its key policy rate and banks' required
reserves if the economic impact from the coronavirus epidemic is
likely to be much worse than expected, its governor said on
Thursday.
Bangko Sentral ng Pilipinas Governor Benjamin Diokno said he
remains committed to cutting interest rates PHCBIR by another
25 basis points this year after the quarter-point cut in
February that brought the policy rate to 3.75% But "if things deteriorate much beyond what we have
originally forecasted, we might consider additional cuts in
reserve requirements or policy rate," Diokno told reporters.

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