Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. signaled the possibility of further interest rate cuts in the remaining months of the year, saying that “25 basis points each time is possible, in principle.”
Remolona made the comments during a forum at the Asian Development Bank (ADB) on Wednesday, ahead of the BSP’s policy meetings scheduled for October and December.
In its last meeting, the Monetary Board reduced the key interest rate by 25 basis points to 6.25 percent.
The BSP said that the balance of risks to inflation has shifted to the downside for both this year and 2025.
Headline inflation fell to 3.3 percent in August, down from 4.4 percent in July.
The Philippine Statistics Authority will release the September inflation data on October 4.
“We have to look at the numbers. Hindi naman yung last number ang nag-decide,” Remolona said.
He said that headline inflation may continue to ease in September.
