0735 GMT - The Philippine central bank is likely to cut its policy rate in April, OCBC economists say in a report. This expectation is driven by recent data, including weaker-than-expected 4Q GDP growth and low February inflation, they write. While inflationary pressures may rise from February's lows, they are expected to remain contained in the coming months, they add. The central bank has signaled that it is open to a cumulative 50bp rate cut this year, they say. "Given the increasingly volatile external backdrop, we will continue to assess the risks to additional rate cuts from BSP," they add. OCBC forecasts 25bp rate cut in April, followed by a hold for the remainder of the year.(amanda.lee@wsj.com)
(END) Dow Jones Newswires
March 07, 2025 02:35 ET (07:35 GMT)
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