BSP Gov Diokno sees opportunity to ease monetary policy | ABS-CBN
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BSP Gov Diokno sees opportunity to ease monetary policy
BSP Gov Diokno sees opportunity to ease monetary policy
Reuters
Published Mar 08, 2019 10:18 AM PHT
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Updated Mar 08, 2019 10:33 AM PHT
MANILA - The newly-appointed Philippine central bank chief said on Friday there is room to ease monetary policy given a cooling in inflation, but he was quick to clarify that the timing of any such action would be data-dependent.
MANILA - The newly-appointed Philippine central bank chief said on Friday there is room to ease monetary policy given a cooling in inflation, but he was quick to clarify that the timing of any such action would be data-dependent.
There is an opportunity to further reduce the reserve requirement ratio, which he said is still too high, Bangko Sentral ng Pilipinas Governor Benjamin Diokno said in a press briefing.
There is an opportunity to further reduce the reserve requirement ratio, which he said is still too high, Bangko Sentral ng Pilipinas Governor Benjamin Diokno said in a press briefing.
The annual inflation rate moved back inside the bank's 2-4 percent target in February when it eased to a one-year low of 3.8 percent, but year-to-date inflation of 4.1 percent is still outside that range.
The annual inflation rate moved back inside the bank's 2-4 percent target in February when it eased to a one-year low of 3.8 percent, but year-to-date inflation of 4.1 percent is still outside that range.
Diokno, who assumed office on Wednesday, will chair his first policy meeting on March 21.
Diokno, who assumed office on Wednesday, will chair his first policy meeting on March 21.
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