0722 GMT - The Philippine central bank is likely to cut rates in June, the UOB Global Economics & Markets Research team writes in a note. Inflation cooled in February, continuing to support the moderation trend due to high base effects compared to a year ago, as well as the government's ongoing non-monetary intervention, the economists say. The next rate cut depends on external factors and future data, as heightened uncertainties from global trade issues remain concerns for the Bangko Sentral ng Pilipinas. Its potential impacts on inflation and economic growth are worrying, and BSP remains cautious on the increasing market volatility, they add. UOB expects the central bank to deliver a 25bp rate cut in June and to hold through 2H. (kimberley.kao@wsj.com)
(END) Dow Jones Newswires
March 05, 2025 02:22 ET (07:22 GMT)
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