BSP to only cut once this year in Oct

THE Bangko Sentral ng Pilipinas will likely start lowering interest rates after the US Federal Reserve and not earlier as signaled given the peso's weakness, a Fitch Group unit said.'We still think that the bank's next move will be a cut, and it will materialize only when the Fed embarks on policy easing of its own,' BMI Country Risk & Industry Research said in a June 28 report that was released on Monday.

6 percent for 2015–2019 — and investments still subdued amid high interest rates, 'we think that the bank will want to cut at the earliest possible time to help spur investment activity and push growth back to trend.'With monetary authorities apparently unfazed by the peso's weakness given Remolona's latest statements, 'the BSP could very well surprise us with a cut next next month if inflationary pressures recede faster than we currently expect.

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