Philippines unexpectedly cuts policy rate
Central bank says government spending concerns have weakened business sentiment
The Philippines central bank cut its policy rate by 25 basis points to 4.75% today (October 9) and said there was further scope for looser monetary conditions.
Central Bank of the Philippines (BSP) governor Eli Remolona said at a press conference that the inflation outlook was “benign” and well within the bank’s 2–4% target range. He said potential electricity rate adjustments in the country and possible tariffs on rice imports could place upward pressure on inflation.
“At the same time, the
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com test test test
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com test test test
More on Monetary policy decisions
South Korea holds policy as expected
Economists expect decision to mark end of easing cycle
RBNZ’s 25bp cut marks end of easing cycle, say economists
Bank says economic activity picked up after policy fell to lowest point in more than three years
Nigeria holds rates at 27% despite easing inflation
Governor says exit from FATF grey list and outlook upgrade will boost capital inflows
South Africa cuts by 25bp, citing lower prices ahead
Sarb brings policy rate to 6.75% in first decision since government lowered inflation target
Indonesia holds rates, with analysts expecting December cut
Central bank says decision will maintain stability of rupiah and strengthen policy transmission
Iceland makes 25bp cut amid mortgage market turmoil
Decision comes after court ruling forces lenders to tighten terms of home loans on offer
Zambia cuts rates for first time in five years
Inflation eases as high global copper prices boost exports and strengthen local currency
Czech Republic, Moldova and Norway hold rates
CNB says services inflation is still high, Moldova is recovering and Norway says it is in no hurry