Interest rate cut still possible in August despite higher inflation—BSP

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The Bangko Sentral ng Pilipinas may still consider an interest rate adjustment in August despite the expected faster inflation in July, Governor Eli Remolona Jr. said Wednesday night.

The BSP said it expected the July inflation to settle within a range of 4.0 percent to 4.8 percent, higher than 3.7 percent in June, on the back of higher electricity rate, agricultural commodities and higher domestic oil prices. BPI president and chief executive Jose Teodoro Limcaoco said in a news briefing the first rate could happen in August, followed by another after a couple of months depending on how inflation rate pans out.

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MlaStandard /  🏆 20. in PH

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