Daily News

BSP pauses policy easing

The Bangko Sentral ng Pilipinas (BSP) or central bank announced a pause in monetary easing to assess the impact of the aggressive actions it implemented to mitigate economic and financial fallout from the COVID-19 pandemic. BSP Governor Benjamin Diokno said it is prudent for the Monetary Board to first evaluate if the previous actions they have taken have been absorbed by the economy. Gov. Diokno added that the scheduled rate setting meeting of the Monetary Board on May 21 has been cancelled due to the off-cycle rate cut last April 16.