BSP governor says February rate cut 'not likely'
In statements made to the press, BSP Governor Eli Remolona [link] said that due to the “numbers we are seeing” a rate cut “is not likely (on) February 15”, which is the next scheduled meeting date for the BSP’s Monetary Board. Mr. Remolona underlined the need to maintain policy settings that were sufficiently tight to handle the evolving risks to inflation posed by geopolitical tensions (Ukraine/Palestine/Houthi militants) and a prolonged El Niño weather event.