Philippine Rate Cut Likely to Come After Fed, Finance Chief Says

According to Finance Secretary Ralph Recto, the Philippine central bank is likely to reduce its key interest rate following the Federal Reserve’s recent policy easing. Recto believes that there will be more than one rate cut this year. The Bangko Sentral ng Pilipinas will take into account factors such as inflation, data analysis, and the difference between domestic and Fed rates before making a decision on cutting rates. Recto also mentioned the possibility of the central bank implementing four rate cuts next year, in addition to the potential 150 basis points reduction through 2025.