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Report: Philippine central bank chief hints at 50-basis-point cuts by year-end

Bangko Sentral ng Pilipinas Governor Benjamin Diokno left the door open to rate cuts of about 50 basis points for the rest of the year as policymakers await economic data to determine the timing of any further easing, Bloomberg News reported.

Diokno said Aug. 5 that the central bank would "make it clear that this is the end of the easing period for this year" if it pushes through with a 50-basis-point cut.

"We'll be guided by the widest available economic and market data," Diokno was quoted as saying by Bloomberg.

The Philippine central bank left its benchmark interest rate unchanged in June in what policymakers described as a "prudent pause" following a 25-basis-point cut in May.

The country is due to report its July inflation numbers Aug. 6 and GDP data Aug. 8.