Bangko Sentral ng Pilipinas (Central Bank of the Philippines). REUTERS/Romeo Ranoco/File Photo
The Bangko Sentral ng Pilipinas delivers a 25-basis point rate cut at the final policy meeting of the Monetary Board for 2024, reducing the key rate to 5.75 percent.
At a press conference, BSP Governor Eli Remolona Jr said inflation is Still expected to stay within the 2 to 4 percent target range of the central bank
But he said domestic demand would remain firm but subdued.
“Looking ahead, the Monetary Board will maintain a measured approach to monetary policy easing to ensure price stability conducive to sustainable economic growth and employment,” Remolona said.