Bangko Sentral ng Pilipinas Governor Eli Remolona Jr. (File photo)
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. said more rate cuts are "possible" for the remainder of the year.
"Meron kaming policy meeting ng October. At saka meron din sa December. So, 25, 25 (basis points), puwede yun in principle. (We have a policy meeting in October and another in December. So, 25,25 [basis points] is possible, in principle)," Remolona said on the sidelines of a forum held at the Asian Development Bank (ADB) on Wednesday.
During its last meeting last month, the Monetary Board of the BSP reduced key interest rates by 25 basis points to 6.25 percent.
The BSP noted that the balance of risks to inflation tilted toward the downside for this year and 2025.
Headline inflation eased to 3.3 percent in August from 4.4 percent in July.
September inflation data will be released by the Philippine Statistics Authority on Oct. 4.
"We have to look at the numbers. Hindi naman yung last number ang nag-decide (The last number will not decide). The last number that we get, the September number that will be released next week, that feeds into our projections," Remolona said.
"What we care about is the projection for one year from now, because the effect of the monetary policy is slow. So that is the relevant number."
He said headline inflation could further ease in September. (PNA)
