SunStar Publishing Inc.
THE Department of Finance is projecting a full-year inflation rate of a 3.4 percent by the end of 2024.Finance Secretary Ralph Recto, in a media briefing in Malacañang on Tuesday, September 24, 2024, expressed confidence that the country will meet the target inflation rate of the Bangko Sentral ng Pilipinas for 2024 which is within 2.0 to 4.0 percent.The country’s inflation settled to 6.0 percent in 2023.From 4.4 percent inflation in July, it went down to 3.3 percent in August.
Recto also said they are in coordination with the BSP regarding interest rates on government borrowings, as well as the proposal to further reduce interest rates for personal loans.“Possibly we can reduce interest rates further. Mas maliit ngayon iyong interest rate na babayaran ng gobyerno. Pero higit sa lahat, pababa na rin iyong interest rate – halimbawa sa credit card ni Juan Dela Cruz papunta sa Pasko,” Recto added.
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