Philippines: BSP cuts the RRR – UOB – by pabspiovano Philippines InterestRate CentralBanks Banks
UOB Group’s Senior Economist Julia Goh and Economist Loke Siew Ting review the latest decision by the BSP to reduce the RRR.Bangko Sentral ng Pilipinas announced on Thu that it will reduce the reserve requirement ratios by 250bps for big banks to 9.5%, 200bps for digital banks to 6.0%, 100bps for thrift banks to 2.0%, as well as 100bps for rural and cooperative banks to 1.0%.
The central bank emphasized that the lower reserve requirements do not constitute any shift in the BSP’s monetary policy settings but it is an operational adjustment to ensure stable domestic liquidity and credit conditions. Recognizing this assertion and expectations of a persistent downtrend in the country’s inflation towards the central bank’s 2.0%-4.0% target range by 4Q23, we stick to our view that BSP will extend its rate pause for the rest of the year.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USD/JPY faces extra range bound near term – UOBUSD/JPY is likely to extend the 138.50-141.00 range in the next few weeks, according to UOB Group’s Markets Strategist Quek Ser Leang and Senior FX St
Read more »
GBP/USD: Further gains in the pipeline - UOBIn the view of UOB Group’s Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia, GBP/USD could advance further in the near term. Key
Read more »
EUR/USD: Upward momentum gathers pace – UOBUOB Group’s Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia note the upside bias in EUR/USD seems to be picking up pace. Key Quo
Read more »
AUD/USD: A test of 0.6800 is likely above 0.6755 – UOBOnce 0.6755 is cleared, AUD/USD could head towards the 0.6800 region in the near term, suggest UOB Group’s Markets Strategist Quek Ser Leang and Senio
Read more »
USD/CNH could now test 7.1800/7.2000 – UOBFurther upside could motivate USD/CNH to challenge the 7.1800 and 7.2000 levels in the next few weeks, comment UOB Group’s Markets Strategist Quek Ser
Read more »
USD/THB poised for extra range bound trade – UOBMarkets Strategist Quek Ser Leang at UOB Group sees USD/THB trading within the 34.55-34.90 range in the near term. Key Quotes USD/THB traded in a rang
Read more »