BSP to consider more interest rate cuts

BSP Governor Benjamin Diokno hinted at further interest rate cuts as inflation is expected to remain low this year.

He said that the central bank will not be as aggressive with its monetary policy easing compared to 2019, but still has room for adjustments.

The Monetary Board's first meeting for the year is set on February 6, where they will assess the economy and make decisions accordingly.

Diokno expressed optimism about the country's economic growth, expecting it to be between 6.5-7% this year with low unemployment rates.

He also noted that poverty incidence has decreased from 23.3% in 2015 to 16.6% in 2018, indicating inclusive growth.

The central bank will remain data-dependent and will go slow on easing benchmark rates this year.