Philippines central bank hopes to cut rates in 2024, flags RRR reduction

MANILA - The Philippines' central bank governor said on Thursday he hoped benchmark interest rates could be cut in 2024, once inflation was under control, and flagged the prospect of lowering reserve requirements for banks in the first half of the this year. While pent-up domestic demand will carry the economy this year, it will likely fade by 2024, Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla said in a speech at a Rotary Club event. "By 2024, when pent-up demand is gone, then monetary policy hopefully at that time will be much looser than what we have now," he said. Central banks around the world, led by the U.S. Federal Reserve, have since last year raced to conta...Keep on reading: Philippines central bank hopes to cut rates in 2024, flags RRR reduction

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