Philippine Central Bank Chief Sees Rate Cut More Likely in 2025 [BNN Bloomberg (Canada)]
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Source: BNN Bloomberg
inflation may breach its target for a third straight year rises, according to Philippine central bank Governor Eli Remolona. “We're looking at staying tight for a while,” Remolona said of the policy stance in an interview on Monday at the Bangko Sentral ng Pilipinas in Manila. Monetary easing will more likely begin in the first quarter of 2025, and the cuts won't be huge — just enough to bring the benchmark closer to the neutral rate of about 6% from the current 6.5%, he said. As things stand, the odds is “over 56%” that inflation will breach the BSP's 2%-4% target again this year and “that's a reason to be hawkish,” Remolona said. “That has to change significantly before we decide to cut,” he said, as he also ruled out further increasing the key rate that's at a 17-year high. Policymakers across the world — including in the Philippines — have signaled they're not in a rush to lower borrowing costs and wanted to see more evidence of firmly decelerating price pressures before piv
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