• Philippine Finance Secretary Ralph Recto says monetary easing will hinge on the outlook for inflation.
• “Again, rate cuts will depend on inflation outlook,” Recto says in a mobile phone message when asked whether the peso’s drop against the dollar on Tuesday will delay a possible cut in the central bank’s policy rate
• Asked whether the peso could revisit the record low of 59 against the greenback last reached in 2022, Recto said: “Your guess is as good as mine”
• Bangko Sentral ng Pilipinas Governor Eli Remolona had flagged last week that a reduction in the central bank’s key rate could come as early as August