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July Economic Updates: Rate cuts, renewed growth on the horizon
If current economic trends hold and rate cuts happen as expected, we may see an economic boost sooner.
By Metrobank Research
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The Bangko Sentral ng Pilipinas (BSP) is poised to implement monetary easing, with Governor Eli Remolona Jr. hinting at possible interest rate cuts as early as August 2024.
This shift in policy stance comes as inflation shows signs of moderating, potentially paving the way for three 25-basis point cuts in the remaining Monetary Board meetings of the year. The anticipated easing of monetary policy is expected to provide a significant boost to the Philippine economy, supporting growth and investment.
Against this backdrop of potential rate cuts, the economic outlook for the Philippines remains positive. The Asian Development Bank maintains its optimistic view, forecasting 6.0% growth for 2024 and 6.2% for 2025.
These projections are underpinned by expectations of moderating inflation and the
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