Reported about 7 hours ago
The Philippine central bank has paused its easing cycle citing global uncertainties, although it intends to reduce the reserve requirement ratio by 200 basis points to 5% in the first half of the year. Governor Eli Remolona mentioned that while the benchmark interest rate remains at 5.75%, there is an ongoing easing approach and no plans for tightening. The unexpected decision led to a slight appreciation of the peso and a positive response in the stock market, highlighting the challenges the bank faces amidst global economic policy uncertainties.
Source: YAHOO