0642 GMT - The Philippines central bank is expected to cut its policy rate by 25 bps at its monetary policy meeting on Thursday, OCBC's Global Markets Research & Strategy team writes in a note. BSP will likely prioritize economic growth provided that headline inflation remains within its 2%-4% target range, OCBC says. November's headline inflation rose 2.5% on year. Recent weather disruptions and continued mixed economic activity data suggest that 4Q GDP growth could be more constrained than previously expected, OCBC adds. "This would be of relevance to BSP since [3Q] GDP growth at 5.2% [on year] was decidedly weak," OCBC says. (amanda.lee@wsj.com)
(END) Dow Jones Newswires
December 18, 2024 01:43 ET (06:43 GMT)
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