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MACTAN, Cebu — Bangko Sentral ng Pilipinas governor Eli Remolona Jr. on Tuesday said the central bank is still on its easing cycle, as he sees the slower economic growth in the third quarter as an aberration, and a recovery in the fourth quarter.Speaking with reporters on the sidelines of the BSP -IMF Systemic Risk Dialogue, Remolona said a rate cut is still possible in the short term, with the next policy meeting of the Monetary Board scheduled on December 16, 2024, the last for the year.
8%, below the government’s full-year target of 6% to 7%.“Parang aberration lang eh . Palagay ko nito babawi eh, babawi ng Q4 ,” Remolona said.The next key figure the central bank is looking out for is the November inflation print, which he said is expected to be within the 2% to 4% target band. Inflation clocked in at 2.3% in October.For 2025, the BSP announced a ballpark figure of 100 basis points for easing in 2025, but he said this is not exact as it could be more or it could be less.
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