Recto: Rate cut possible in April

Crucial to hitting 6% growth target

- By LOUISE MAUREEN SIMEON

In an interview with Bloomberg TV yesterday, Recto said that a rate cut is possible in April after BSP's surprise pause last month.

"It would appear that because inflation has been controlled in the Philippines, there is room for a rate cut," Recto said.

"We are in an easing cycle. It's a high probability that we could do a rate cut in our next meeting," he said.

During its first policy meeting for the year, the BSP surprised the market after it deviated from the consensus and kept borrowing costs unchanged at 5.75 percent.

Last week, BSP Governor Eli Remolona Jr. said the central bank is still taking a cautious approach in terms of policy easing.