Senior Economist Julia Goh and Economist Loke Siew Ting at UOB Group evaluated the recent decision by the BSP to leave the monetary conditions unchanged at this week’s meeting. Key Quotes “Bangko Sentral ng Pilipinas (BSP) kept its overnight reverse repurchase (RRP) rate unchanged at 4.00% today as hinted by Governor Benjamin Diokno on 4 Nov. Accordingly, the overnight deposit and lending rates were left unchanged at 3.50% and 4.50%, respectively. BSP said this prudent pause in monetary adjustment will enable the cumulative 75bps cut in overnight RRP rate and the 300bps reduction in reserve requirement ratio (RRR) to date to filter through the economy”. “The overall tone of the latest monetary policy statement was largely unchanged from September’s, whereby future decisions are likely to be data and event dependent”. “With domestic growth prospects expected to improve further and risks to the inflation outlook remaining contained, we believe BSP will keep its overnight RRP rate steady at 4.00% at its final monetary policy meeting for the year on 12 Dec. That said, the central bank has sufficient policy space to ease further going into 2020 given that inflation expectations remain well anchored within the BSP’s target range of 2.0%-4.0%”. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Annual core CPI in eurozone stayed unchanged at 1.1% as expected FX Street 3 years Senior Economist Julia Goh and Economist Loke Siew Ting at UOB Group evaluated the recent decision by the BSP to leave the monetary conditions unchanged at this week's meeting. Key Quotes "Bangko Sentral ng Pilipinas (BSP) kept its overnight reverse repurchase (RRP) rate unchanged at 4.00% today as hinted by Governor Benjamin Diokno on 4 Nov. Accordingly, the overnight deposit and lending rates were left unchanged at 3.50% and 4.50%, respectively. BSP said this prudent pause in monetary adjustment will enable the cumulative 75bps cut in overnight RRP rate and the 300bps reduction in reserve requirement ratio (RRR) to date… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
