Bangko Sentral preempts Alan Greenspan

This is one experiment that central bankers in Asia should follow closely: The Monetary Board of the Philippines has pre-empted a possible US Federal Reserve interest rate cut .

The brave reduction of the Bangko Sentral's (central bank) key interest rate by 50bp cut, adopted during the March 8 regular board meeting, was unexpected.  BSP Governor Rafael Buenaventura has been firm in his policy of lowering interest rates, but timing has always been patterned after that of the US monetary policy.

Sign in to read on!

Registered users get 2 free articles in 30 days.

Subscribers have full unlimited access to FinanceAsia.

Not signed up? New users get 2 free articles per month, plus a 7-day unlimited free trial.

Questions?
See here for more information on licences and prices, or contact [email protected].

Share our publication on social media
Share our publication on social media