Philippine chief says committed to 50 bps of rate cuts this year

MANILA, Feb 6 (Reuters) - The Philippine central bank chief said on Thursday he was committed to cutting the key interest rate by 50 basis points this year, in remarks hours ahead of a policy meeting later in the day.

"I am committed to 50 bps this year. When? We will have to look at that," Bangko Sentral ng Pilipinas Governor Benjamin Diokno told a business forum.

The central bank is expected to cut rates on Thursday, taking advantage of moderate inflation to buttress the economy against the negative impact of the spreading virus outbreak, a Reuters poll showed.

(Reporting by Neil Jerome Morales; Editing by Kim Coghill)