Philippine says easier monetary policy will lift growth
Published: 30 May 2009 17:48:34 PSTMANILA, May 28 - An easier monetary policy will help support growth in the Philippine economy, which is now teetering on the brink of recession, the socio-economic planning chief said on Thursday.
"Loosening monetary policy will help clearly," Secretary Ralph Recto told reporters.
The Philippine central bank will hold a policy meeting later on Thursday and the market expects a cut of at least 25 basis points to 4.25 percent for the overnight borrowing rate, a fresh 17-year low. [ID:nMAN4866085]
The policy announcement is expected shortly after 0800 GMT.
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