Interest rate cut, lower inflation seen boosting growth

    MANILA, Philippines - The cut in interest rates augur well to economic growth moving forward alongside easing inflation, officials said. "Easing monetary policy and making more funds available for investment, by businesses, by local as well as international businessmen, would help," Socioeconomic Planning Secretary and National Economic and Development Authority chief Ernesto M. Pernia, the country's chief economist, told a press conference Thursday, when asked about the benefits of an interest rate reduction to the economy. Higher interest rates make it more expensive to borrow, such that some consumers defer purchases or consumption of certain goods while ...

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