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BSP policy meeting to proceed this month

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PHILSTAR/GEREMY PINTOLO

THE Philippine central bank will proceed with its policy meeting on March 19 even after some key members of the Monetary Board were either tested or had to go on self-quarantine for the novel coronavirus, its chief said on Friday.

Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno said is attendance at the meeting would depend on the results of his test.

“I got tested today and I expect to get the result on Sunday or Monday,” he said in a mobile-phone message. “If negative, I can report for work on Wednesday.”

The March 19 policy meeting is the second for the year. At their first meeting on Feb. 6, the Monetary Board cut policy rates by 25 basis points to shield the economy from the effects of an outbreak.

Mr. Diokno earlier said the central bank would look at the emergency 50 bps rate cut by the US Federal Reserve, 2.6% Philippine inflation in February and developments in the coronavirus outbreak at the policy meeting. — Luz Wendy T. Noble





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