Monthly Recap: The Fed’s first cut of the year
Updated as of October 8, 2025: Slower growth, higher inflation, and a more dovish Fed are all part of last month’s economic outlook.

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(Editor’s Note: This article has been updated to update the attached report that reflects the corrected forecasts for the BSP RRP Rate and USDPHP forecasts for 2026 and 2027)
Here are the key economic events in September 2025 and what to look out for ahead.