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THE GIST
NEWS AND FEATURES
Global Philippines Fine Living
INSIGHTS
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
WEBINARS
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
DOWNLOADS
コンテナターミナル
Economic Updates
Philippines Trade Update: Trade deficit narrows but not a sign of strength
August 29, 2025 DOWNLOAD
Frick collection with palm trees 
Economic Updates
Policy Rate Updates: BSP takes on less dovish tone
August 28, 2025 DOWNLOAD
City skyline at sunset in Metro Manila
Economic Updates
Quarterly Economic Growth Release: Stronger case for a BSP cut in August
August 7, 2025 DOWNLOAD
View all Reports
Economy 4 MIN READ

Fed Update: Rate cuts to support jobs market

The easing cycle continues as Fed supports the labor market

November 8, 2024By Metrobank Research
Printing money on a roll

Monetary officials in the US noted labor market conditions have remained weak, signaling continued rate cuts by the Federal Reserve (Fed).

The Fed reduced the Federal Funds Target Rate (FFR) by 25 basis points (bps) to 4.50% – 4.75% during the Federal Open Market Committee (FOMC) meeting on November 6-7.

Statements by the FOMC and its chairman Jerome Powell both acknowledged weakness in the jobs market and inflation’s continued movement toward the 2% target.

Given that the recent developments align with Metrobank Research’s expectation, we maintain our forecast that the Fed will continue with its easing cycle and deliver a total of 100 bps worth of cuts for FY 2024, 100 bps in 2025, and 50 bps in 2026. This should bring the target FFR to its terminal rate of 3.00% by end-2026.

On the domestic front, Metrobank Research maintains its view that the BSP will reduce its policy rate by another 25 bps during its last Monetary Board meeting in December, followed by a cumulative 100 bps cuts in in 2025 and a cumulative 50 bps cuts in 2026. This would bring down RRP to 4.25% by end-2026.

FED UPDATE 

The cycle continues: Fed to support the labor market

Fed is forecast to continue with its easing cycle

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