FMIC cuts 2019 economic growth forecast to 6-6.5%

FIRST Metro Investment Corp. (FMIC) on Monday revised downward its economic growth projection for the country this year to 6-6.5 percent from the 6.8-7.2 percent it estimated earlier.

It also sees the Bangko Sentral ng Pilipinas further reducing banks’ reserve requirement ratio (RRR) by 2 percent, as well as policy rates by 50 basis points, before 2019 ends on the back of easing inflation.