Despite the series of rate cuts it delivered last year, the Bangko Sentral ng Pilipinas (BSP) said monetary policy remains restrictive, leaving room for more easing this year.
In his first public appearance this year during an event hosted by the Rotary Club, BSP Governor Eli Remolona Jr. said the central bank is targeting a natural or "Goldilocks" rate in which the key interest rate is neither too high nor too low.
"But I can't tell you (the number) and it's a very imprecise number. But what I can tell you at this point is that we're still in restrictive territory compared to what we think the Goldilocks rate is. So there's still some room to ease," he said.
This story is from the January 10, 2025 edition of The Philippine Star.
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This story is from the January 10, 2025 edition of The Philippine Star.
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