Recto sees 25-bps rate cut

Agrees with market consensus

- By KEISHA TA-ASAN

"There's a great possibility," Recto told reporters in an informal chat. "I agree with the market consensus of a 25-basis-point decrease."

Recto clarified that he is not bound by the central bank's "quiet period" ahead of monetary policy decisions, which prohibits members from commenting publicly on monetary policy matters.

"I'm not covered by that. I'm secretary of finance," Recto said.

The BSP is widely expected to bring down its key policy rate by 25 basis points during its Monetary Board meeting today, according to a poll of analysts conducted last week.

The central bank delivered a 25-basis-point cut last Oct. 16, bringing the total cuts to 50 bps since it began its easing cycle in August.