Remolona: August rate cut on the table

A rate cut remains on the table for the central bank's next policy meeting in August, even as the peso trades at weaker levels against the dollar, Bangko Sentral ng Pilipinas Governor Eli Remolona Jr. said.

- By KEISHA TA-ASAN

"There's a meeting in late August, then we have two more (meetings) in October and December," Remolona told reporters, hinting that the Monetary Board could still trim rates two more times this year.

Asked if a rate cut is possible on Aug. 28, he said: "It's on the table, yeah. A lot of other data (will) come out."

The central bank has already slashed interest rates by 125 basis points since August last year, bringing the benchmark rate to 5.25 percent.

Remolona also said the BSP is not overly concerned about the peso's recent depreciation and the potential inflationary pressures it may cause.