China rate cut seen positive for PH

The central bank and a private company analyst said China’s latest policy action to underpin its economic growth with supportive interest rates should also impact the Philippine economy positively.

“With regard to China’s action, to the extent this will result in sustaining growth in the Chinese economy – this should be positive for our growth prospects in the medium term,” Bangko Sentral ng Pilipinas (BSP) Governor Amando Tetangco Jr. told reporters in a text message late Monday.