The start of an easing cycle is imminent, HSBC Global Research said, forecasting cuts totaling 50 basis points (bps) this year for the Bangko Sentral ng Pilipinas’s (BSP) benchmark rates.
“Taken together with the large amount of ‘policy space’ created by rate hikes last year (above all in the Philippines and Indonesia), it is increasingly clear that parts of the region are on the cusp of an easing cycle,” the research unit said in a report released earlier this week.
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