Philippines could cut rates by 100bp this year, says minister

Benjamin Diokno’s comments contrast with governor’s December assessment of future inflation

Central Bank of the Philippines
The Central Bank of the Philippines
Patrick Roque (

The Philippines finance minister Benjamin Diokno said he expects the central bank may cut its benchmark interest rate by as much as 100 basis points this year.

Diokno’s words came shortly after inflation had returned to the Central Bank of the Philippines’ (BSP) target 2–4% target range in December. Headline inflation slowed to 3.9% year on year in December, data released by the Philippine Statistics Authority on January 5 showed.

By contrast, BSP governor Eli Remolona has so far appeared to be

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