Your Morning Fix

• The Bank of England kept interest rates at 4.5% and warned against assumptions for further cuts, as it faced uncertainty over the British and world economies.
• On Thursday, Taiwan’s central bank held the benchmark discount rate steady at 2%. Likewise, Hong Kong Monetary Authority left its base rate unchanged at 4.75%.
• Investors pared bearish bets on Asian currencies, as the US dollar stalled. In a turnaround, analysts were bullish on the Philippine peso for the first time since October, with long positions at their highest in over three months.
• BSP Governor Eli Remolona signaled a reduction in policy rates at the next Monetary Board meeting in April, especially if inflation is better than expected. He also flagged the possibility of up to 75 basis points (bps) of rate cuts this year to support economic growth.
• According to Remolona, the BSP will resist big swings in the peso, as “a big swing toward the direction of depreciation tends to be inflationary.” His interview appeared on Bloomberg TV as some emerging markets turned volatile this week amid domestic politics.