MANILA, Philippines — An accommodative monetary policy can be expected to support the Philippine economy this year in the face of external headwinds that include the worsening US-China trade war and rising oil prices, said London-based think tank Oxford Economics. As the Philippines is an oil importing country, its growth prospects are threatened by rising global oil prices, the result of US sanctions on Iran. The BSP has already slashed policy rates by 25 basis points early this month, after economic growth slowed to a four-year low. “With inflation in target range, monetary policy is expected to become more accommodative,” Oxford Economics said. It reiterated its earlier expectation of Brent crude prices reaching $100 per barrel by the end of 2019.

Source: Philippine Star May 22, 2019 16:00 UTC