Philippines, Taiwan and Indonesia cut rates; Singapore on watch

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Central Bank of the Philippines

Central Bank of the Philippines

The central banks of the Philippines, Taiwan and Indonesia have slashed rates as downside risks from a prolonged impact of the coronavirus persist. Singapore has kept monetary policy unchanged despite core inflation falling into negative territory.

Philippines cuts rates and RRR

The Central Bank of the Philippines (BSP) cut the reserve requirement ratio (RRR) by 200 basis points on March 24, after announcing a $6 billion government debt purchase plan and slashing policy rates by 50bp.

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