March 16, 2020 / 9:57 AM / 21 days ago

Philippine might consider 50 bps policy rate cut on Thurs

MANILA, March 16 (Reuters) - The Philippine central bank might consider a 50 basis points policy rate cut at its meeting on Thursday, its governor said on Monday, to counter the economic impact of the coronavirus outbreak.

Given the threat of the spreading virus, slowing global economy, muted inflation and synchronised global monetary easing, Governor Benjamin Diokno said the Bangko Sentral ng Pilipinas “might consider a deeper cut, say 50 bps.”

Several economists have penciled in a quarter-point cut on Thursday which would follow a 25 bps cut on Feb. 6 which took the rate to 3.75%.

Reporting by Karen Lema; editing by Jason Neely

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