German cooperative banks have requested the European Central Bank (ECB) to refrain from further monetary
easing measures.
The central bank has been under pressure to enhance its monetary
easing policy as other central banks have indicated they will cut interest rates to prop up growth.
Meantime, the much better inflation outlook has also given the BSP more room for monetary
easing. Based on its latest estimate as of June 20, the BSP sees inflation settling at 2.
Policy
easing "is positive for the local economy and financial markets due to greater lending and investment activities," said Michael Ricafort, an economist at Rizal Commercial Banking Corp.
Shahid Rasheed Butt said that ease of business would require the bureaucracy to change its mindset, reduce red tape-ism, discouraging corruption, simplification of tax and other laws, and
easing visa regimes.
'The major catalysts for the renewed
easing of inflation are the further declines in global oil prices to the lowest levels in 15-16 months amid increased global oil supply despite the recent cut in oil production output by Opec (Organization of the Petroleum-Exporting Countries) on Dec.
The dollar sagged on Thursday and the euro advanced, as the United States and the European Union agreed to begin talks towards
easing trade barriers on industrial goods.
Private sector firms in the UAE's non-oil private sector reported
easing job creation during March.
The Central Bank of Egypt is likely to begin
easing policy, with a 50-basis point reduction in both the overnight deposit rate and overnight lending rate to 18.25 per cent and 19.25 per cent, respectively, and a change in its monetary policy stance to signal the beginning of an
easing cycle, according to Bloomberg Economics.
"With the eight reforms enforced in the system, India made paying taxes easier by requiring that payments be made electronically to the Employees Provident Fund and introducing a set of administrative measures
easing compliance with corporate income tax," said the World Bank in a statement.
Central banks have responded to the financial crisis with an
easing monetary policy that included unconventional measures.