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BSP eases rates for fourth straight meeting
The Bangko Sentral ng Pilipinas (BSP) has unexpectedly reduced its policy rate by 25 basis points (bps) to 4.75%, marking the lowest borrowing cost in almost three years.
This surprise move is the fourth consecutive rate cut implemented by the Monetary Board, continuing their easing cycle.
The rates for the overnight deposit and lending facilities were also adjusted downwards by 25 bps, now standing at 4.25% and 5.25%, respectively.
Contrary to market expectations, a significant majority of analysts surveyed by BusinessWorld had predicted a pause in monetary easing.
Since initiating its easing cycle in August 2024, the BSP has cumulatively lowered borrowing costs by 175 bps through a series of 25-bp reductions.
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Nomura Global Markets Research forecasts that the Bangko Sentral ng Pilipinas (BSP) may implement a fourth consecutive 25 basis point (bps) rate cut on Thursday, October 9th, to support the economy amid benign inflation.
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The Bangko Sentral ng Pilipinas (BSP) has lowered its key policy interest rate by 0.25 percentage point to 4.75 percent, surprising many as inflation remains below target.
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Most analysts polled by BusinessWorld anticipate the Bangko Sentral ng Pilipinas (BSP) will maintain its policy interest rate at 5% during its upcoming Monetary Board meeting on October 9, citing persistent inflation risks.
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