February 27, 2020 / 7:55 AM / a month ago

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 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. (Reporting by Neil Jerome Morales Editing by Shri Navaratnam)

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