0904 GMT - The Philippine central bank looks set to continue its easing cycle undeterred, despite a steady Fed funds rate, Nomura analysts say in a note. With the inflation outlook--the biggest policy driver for the BSP--benign, they continue to expect 75 bps of rate cuts in the first three meetings of the year, starting with February's on Thursday. They note that the BSP still assesses the pass-through from weakening forex as limited and has ample reserves to intervene and stem currency volatility. They expect the country's GDP growth to improve to 6.0% in 2025 from 5.6% in 2024 but flag risks from escalating global trade and geopolitical tensions. (fabiana.negrinochoa@wsj.com)
(END) Dow Jones Newswires
February 12, 2025 04:04 ET (09:04 GMT)
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