BSP: Governor Remolona Says Policy Is In Sweet Spot For CPI & Growth
Speaking at a media briefing after today's monetary policy decision, Governor Eli Remolona says that there is still a possibility of another rate cut, but the BSP could as well be at the end of its easing cycle, as it has turned less dovish than before.
- Remolona describes policy as being 'at goldilocks rate' with the Philippines currently in a sweet spot for both CPI and growth.
- The Governor says that the CPI outlook is very manageable, despite significant risks, chiefly from power and food prices.
- According to Remolona, even if risks materialise, CPI inflation should stay within the target band.
- The central bank trimmed interest rates by 25bp, in line with unanimous consensus.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
SONIA: Large Basis Trade
Large Sonia Basis trade, helps explain the Volume at that Expiry.
- SFIM7 10k at 96.42.
SILVER TECHS: Uptrend Remains Intact
- RES 4: $41.064 - 1.764 proj of the Apr 7 - 25 - May 15 swing
- RES 3: $40.285 - 1.618 proj of the Apr 7 - 25 - May 15 swing
- RES 2: $40.000 - Psychological round number
- RES 1: $39.655 - 1.500 proj of the Apr 7 - 25 - May 15 swing
- PRICE: $38.092 @ 08:00 BST Jul 29
- SUP 1: $37.843 - 20-day EMA
- SUP 2: $36.452 - 50-day EMA
- SUP 3: $35.285 - Low Jun 24
- SUP 4: $33.967 - Low Jun 3
Trend signals in Silver are unchanged, they remain bullish. Gains early last week reinforce current trend conditions - the metal traded above resistance at $39.132, the Jul 14 high. The break confirms a resumption of the uptrend and maintains the price sequence of higher highs and higher lows. Sights are on $39.655 next, a Fibonacci projection. On the downside, initial support to watch lies at $37.843, the 20-day EMA.
MNI: SPAIN Q2 FLASH GDP +0.7% Q/Q, +2.8% Y/Y
- MNI: SPAIN Q2 FLASH GDP +0.7% Q/Q, +2.8% Y/Y
