A unit of the Fitch Group said on Friday the lower-than-expected gross domestic product (GDP) the government posted in the first three months of 2019 offered some space for a rate cut.

In a report, Fitch Solutions said “the slowdown in growth [not only reflected] the external headwinds faced by the Philippine economy, but also the limited domestic fiscal support and the impact of tighter monetary policy in the” first quarter.

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