![Citi sees 150 bps rate cuts in 2 years](https://cdn.magzter.com/1589965519/1720289484/articles/nTuy3xFoa1720293366974/CITI-SEES-150-BPS-RATE-CUTS-IN-2-YEARS.jpg)
Following the BSP’s policy decision to keep borrowing costs unchanged last week, Nalin Chutchotitham, economist for the Philippines at Citi, said the bank sees 25 basis points of rate cuts in August, October and December this year.
If realized, the key interest rate will go down to 5.75 percent by ps rate cu end-2024. This will be followed by 25-basis-point rate cuts in February, May and August in 2025, which will bring the key rate to five percent by end-2025.
Chutchotitham said monetary easing would likely be needed to support economic growth.
“While growth has been resilient so far, first quarter GDP (gross domestic product) growth at 5.7 percent was below market’s expectation,” she said.
Bu hikaye The Philippine Star dergisinin July 07, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye The Philippine Star dergisinin July 07, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
![Biden makes verbal gaffes at NATO summit](https://reseuro.magzter.com/100x125/articles/21915/1763583/4xe0kQYtT1720811188892/BIDEN-MAKES-VERBAL-GAFFES-AT-NATO-SUMMIT.jpg)
Biden makes verbal gaffes at NATO summit
A defiant Joe Biden insisted on Thursday that he will run for another term as US president and beat Donald Trump, as a string of verbal gaffes at a major summit threw a harsh new spotlight on his fitness.
NGCP project benefits 59 M households in Luzon
HERMOSA, Bataan – Around 59 million households in Luzon will benefit from the landmark P20.9billion transmission line project of the National Grid Corp. of the Philippines.
SITG formed to probe killing of Australian couple, Pinay
The Calabarzon police has formed a special investigation task group (SITG) to hasten the probe of the killing of two Australians and a Filipina in a hotel in Tagaytay City in Cavite on Wednesday.
2 nabbed for stealing Amorsolo painting
The National Bureau of Investigation (NBI) has arrested two suspects in the theft of a painting of national artist Fernando Amorsolo from a museum in Silay City in Negros Occidental.
DHSUD inks deal for temporary shelter for informal settlers
The Department of Human Settlements and Urban Development (DHSUD) has signed a memorandum of agreement (MOA) with the Pasay City government and Manila International Airport Authority (MIAA) for the establishment of a “staging area” where informal settler families (ISF) will be temporarily relocated.
Warning out on unregistered hotdog brand
The Food and Drug Administration (FDA) yesterday warned the public against the purchase and consumption of an unregistered brand of hotdog being sold in the market.
2 dead, 4 Manila cops hurt in Tondo shootout
A man wanted for murder was killed in an alleged shootout with police while evading arrest in Tondo, Manila on Thursday night, which also resulted in the death of his companion.
Kamuning flyover to reopen partially in August – DPWH
The upper portion of the Kamuning flyover will be reopened in August after undergoing major repairs, an official of the Department of Public Works and Highways (DPWH) said yesterday.
Guo won't ask SC to reverse AMLC asset freeze
The camp of Bamban Mayor Alice Guo yesterday said it will not ask the Supreme Court (SC) to overturn the decision of the Anti-Money Laundering Council (AMLC) to freeze her assets.
P183-M La Niña relief aid set for Central Luzon
The government has readied P183.41 million in assistance to those likely to be affected by the looming La Niña in Central Luzon, considered the country’s rice granary, President Marcos announced yesterday.