Reported about 11 hours ago
Philippine central bank Governor Eli Remolona announced that the benchmark interest rate could be lowered by a total of 50 basis points this year, with a 25 basis point cut expected in the first half and another 25 basis points in the latter half. The central bank maintains a projection for inflation to stay within 2%-4% and is considering further changes to banks' reserve requirements to stimulate the economy. Despite last year's slower GDP growth, officials are optimistic about a recovery this year.
Source: YAHOO