MONETARY authorities are likely to implement another rate cut this year, the central bank chief said, hoping it will significantly impact the country's growth.
MONETARY authorities are likely to implement another rate cut this year, the central bank chief said, hoping it will significantly impact the country's growth.'We will always be assessing the situation. But given our current assessment, I think we have room for one more cut this year,' Bangko Sentral ng Pilipinas Governor Eli Remolona Jr. said on Friday.The Monetary Board reduced interest rates on Thursday by 25 basis points to 6.25 percent, ending the 17-year high of 6.5 percent.
3 percent, while that for 2025 was trimmed to 3.1 percent from 3.2 percent. For 2026, the BSP expects inflation to settle at 3.2 percent.The BSP chief has also maintained his view that another 25 bps cut will be ordered later this year.The Monetary Board has only two meetings remaining, scheduled for October 17 and December 19.Rate cut to spur growthRemolona is hopeful that the rate cut will significantly impact the country's growth.
Sees Room For Another Rate Cut
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