‘No need for more rate cuts until Aug’home/Business/Top Business/‘No need for more rate cuts until Aug’THE Bangko Sentral ng Pilipinas (BSP) can pause on cutting interest rates, at least until August, on the back of stable inflation, according to a member of the central bank’s policymaking Monetary Board. Therefore, there is really no reason to change policy rates,” Felipe said. Medalla’s remarks come as the Department of Finance (DoF) said consumer prices growth should only accelerate by at least 0.4 percentage points month-on-month to achieve an average inflation rate of below 4 percent for the rest of the year. For their part, analysts still think monetary authorities will continue to cut interest rates. “Benign inflation and lower GDP (gross domestic product) growth provide additional scope for the BSP to further ease monetary policy,” HSBC economist Noelan Arbis said.

Source: Manila Times June 11, 2019 16:52 UTC