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BSP expected to reduce rates by 50 bps more on Covid-19

J.P. Morgan expects the Monetary Board of the Bangko Sentral ng Pilipinas (BSP) or central bank to cut rates by a further 50 basis points (bps) this year as part of a broader easing trend across Emerging Asia to shield their economies against the negative impact of the coronavirus (Covid-19) outbreak. J.P. Morgan said other central banks in the region might also follow the 50-bps reduction effected by the Federal Reserve between regular meetings on Tuesday, in a move to shield the U.S. economy from the impact of Covid-19.