Timing of BSP cuts uncertain

Timing of BSP cuts uncertain – analysts

May 23, 2024 12:40 am

THE Bangko Sentral ng Pilipinas (BSP) will still likely start cutting interest rates this year, but the timing has become more critical given the peso's recent decline, analysts said.

The currency fell to an 18-month low of P58.27 against the dollar on Tuesday, and the central bank's having signaled a readiness to start easing, to the extent of moving ahead of the US Federal Reserve, was said to have been a factor.

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