MONETARY authorities could cut key interest rates twice more before the year ends following lower-than-expected September inflation, analysts said, but significant reductions are unlikely due to continued domestic and global challenges.
Inflation markedly slowed 1.9 percent last month from 3.3 percent in August, falling below the Bangko Sentral ng Pilipinas' 2.0- to 4.0-percent goal. It was also lower than the central bank's 2.0- to 2.8-percent estimate for the month and the 2.6-percent median in a Manila Times poll of economists.The September inflation result — the lowest in over four years or since May 2020's 1.6 percent — brought the year-to-date average to 3.4 percent.
'The BSP last month also slashed bank reserve requirements by as much as 250 bps, to take effect on October 25, but Dacanay said the impact on inflation was likely to be minimal.While approximately P450 billion of liquidity is to be injected into the economy, he said that most or all of it was expected to be absorbed by the BSP through its various monetary tools.
Say Chances Of Two Rate Cuts Higher
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