Chidu Narayanan, economist at Standard Chartered, suggests that they are expecting Bangko Sentral ng Pilipinas (BSP) to begin its rate-cutting cycle with a 25bps cut when it meets on 9 May. Key Quotes “The decision is likely to be a close call. Markets have moved to our (then) non-consensus call from Q1-2019, with Bloomberg consensus expecting a 25bps rate cut.” “The combination of falling inflation and slowing growth is likely to lead BSP to start unwinding part of the 175bps of rate hikes from 2018. We see a total 100bps of rate cuts this year, taking the policy cash rate to 3.75 by year-end.” “Inflation likely dropped to 2.9% y/y in April, falling for the first time in 16 months below the midpoint of BSP’s 2-4% target. We expect inflation to fall further in 2019, below 2% in Q3 and averaging 2.7% in 2019.” “Q1 growth (data due on 9 May ahead of BSP’s meeting) likely fell to 6%, weighed down by slowing consumption and falling infrastructure expenditure. In addition, the budget impasse in Q1 may have shaved 0.3-0.5ppt off growth.” “We expect 200bps of RRR cuts in addition to 100bps of policy rate cuts this year.” 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 Markets: Key economic events and indicators for the week – Rabobank FX Street 3 years Chidu Narayanan, economist at Standard Chartered, suggests that they are expecting Bangko Sentral ng Pilipinas (BSP) to begin its rate-cutting cycle with a 25bps cut when it meets on 9 May. Key Quotes "The decision is likely to be a close call. Markets have moved to our (then) non-consensus call from Q1-2019, with Bloomberg consensus expecting a 25bps rate cut." "The combination of falling inflation and slowing growth is likely to lead BSP to start unwinding part of the 175bps of rate hikes from 2018. We see a total 100bps of rate cuts this year, taking the policy cash rate… 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.
