AS commodity prices are expected to further stabilize and pose downside risk to the inflation outlook, the Bangko Sentral ng Pilipinas could potentially reduce monetary policy rates, according to Finance Secretary Ralph G. Recto.
Earlier, Recto said he expects another 75-bps cut this year while his initial position was a 100-bps cut.The Philippines’ inflation rate settled at 3.2 percent in 2024, the first time within the target range in two years. This is lower than the 6 percent recorded in 2023 and 5.8 percent in 2022. Meanwhile, rice inflation dropped to 0.8 percent in December 2024 from 5.1 percent in November 2024 and 19.6 percent in December 2023.
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