THE Bangko Sentral ng Pilipinas (BSP) policymaking body Monetary Board is expected to be more data-dependent in deciding future rate cuts with the easing cycle anticipated to be gradual, analysts said.

"We believe monetary policy moving forward will now be more data-dependent, wherein each incremental rate cut will depend on what direction inflation goes relative to expectations," HSBC Global Research economist Aris Dacanay said.

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