SLOWER inflation could lead the Bangko Sentral ng Pilipinas (BSP) to implement larger-than-expected rate cuts next year, according to Dutch financial services firm ING Bank N.V. In its latest Marcoeconomic Outlook report, ING said Philippine inflation may average 3.4 percent this year; 2.8 percent next year; and 3.
SLOWER inflation could lead the Bangko Sentral ng Pilipinas to implement larger-than-expected rate cuts next year, according to Dutch financial services firm ING Bank N.V.
“However, we think a combination of strong disinflation and slower growth will open up room for larger rate cuts than what the market is pricing in, especially for the Philippines, Singapore, India and perhaps Indonesia,” it added. The Federation of Filipino Chinese Chambers of Commerce and Industry Inc. earlier told BusinessMirror that the Philippines should gear up for stronger competition in Southeast Asia as exports of China may slow down next year. .
This monetary policy action may stem from the recent inflation print of 2.5 percent in November. While this was faster than the 2.3 percent recorded in October, it was still still lower than the 4.1 percent posted in November 2023. .
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