Philippine central bank chief says no more rate cuts this year

Bloomberg

The Philippine central bank is done with easing monetary policy for this year after it cut interest rates three times and pumped liquidity into the banking system, Governor Benjamin Diokno said.
When asked if there would be no more reductions in the benchmark rate or reserve requirement ratio in 2019, Diokno said “absolutely.”
Monetary authorities have done “more than enough”
for the year, he said in a text message from his mobile phone.
Bangko Sentral ng Pilipinas has lowered its policy rate by a total of 75 basis points this year and will bring down the reserve ratio to 14% by December from 18% in May.
The central bank has two scheduled rate decisions for the rest of the year: next week and December 12.
The central bank has been loosening policy this year in the face of slowing inflation and a weakening economy. Data will probably show annual inflation slowing for a fifth straight month to 0.8% in October.
Finance Secretary Carlos Dominguez, in a briefing at the sidelines of the ASEAN Summit in Bangkok said recent monetary easing “is sufficient and will do the job.”
Third-quarter economic growth likely accelerated from the previous two quarters on higher government spending, Dominguez said.