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Mettis Global News
Mettis Global News
Mettis Global News

MPS Preview: SBP set to slash policy rate by 200bps

Philippine Peso sinks to record low

Philippine Peso sinks to record low
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November 21, 2024 (MLN): The Philippine peso fell to a record low as traders viewed comments from the nation’s central bank as dovish.

The peso fell as much as 0.2% to 59 per dollar on Thursday, the lowest since late 2022.

The central bank may cut or hold its benchmark rate next month depending on inflation data, central bank governor Eli Remolona Eli Remolona said Tuesday.

The Monetary Board in October meeting reduced the BSP’s Target Reverse Repurchase (RRP) Rate by 25 basis points to 6%.

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Posted on: 2024-11-21T13:40:42+05:00