Rate cut this week still likely

MONETARY authorities could push through with a rate cut this Thursday, analysts said, despite inflation having breached target last month and better-than-expected second-quarter economic growth.

Eleven of the 15 outlooks compiled by The Manila Times predicted a 25-basis point easing on August 15 while the rest favored cuts later in the year. Three did not rule out the possibility of an off-cycle move before the next policy meeting on October 17.