Metrobank chief economist Nicholas Antonio Mapa said the interest rate differential between the Philippines and the US is now at 125 basis points, giving the BSP space to cut again next month.
“The BSP has more than enough space to cut the target reverse repurchase rate (RRP) by 25 basis points in October, with September inflation possibly dipping to 2.3 percent,” Mapa said in a social media post.
He added that the timing of cuts may also become an issue if the Monetary Board pauses next month, as the US Fed has two scheduled meetings before the BSP meets in December. The Fed will meet on Nov. 6 to 7 and on Dec. 17 to 18 to discuss policy.
This story is from the September 20, 2024 edition of The Philippine Star.
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This story is from the September 20, 2024 edition of The Philippine Star.
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