Filipino Rate Cut
December 19, 2024
As analysts were expecting, a 25-basis point interest rate cut was announced today at the Central Bank of the Philippines. At 5.75%, the new rate will be its lowest in 22 months and down from 6.50% maintained from October 2023 until an initial cut in August 2024. Inflation is projected to stay under the 2-4% target range corridor ceiling over the coming two years. While shifting toward a less restrictive monetary stance, officials feel that “emerging upside risks to inflation, notably geopolitical factors” warrant a careful approach.
Copyright 2024, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
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