Further Monetary Easing Expected, But At A More Gradual Pace

We expect continued monetary easing by the Bangko Sentral ng Pilipinas over the remainder of the year, with a 25bps policy rate cut likely to be announced at the upcoming May 28 meeting. However, abundant liquidity, a robust remittance inflow and a resurgence of energy prices will likely bring some moderation to the central bank's dovishness.

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