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BSP seen to hold off cuts in interest rates
The Philippine Star
|October 07, 2025
Inflation is expected to settle within the Bangko Sentral ng Pilipinas (BSP)'s two to four percent target band by yearend, but lingering upside risks from food supply shocks and a weaker peso could keep monetary authorities cautious in the coming months, according to Manulife Investment Management.
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Jean de Castro, head of fixed income for Manulife Investment Management, said the BSP's forecast of 1.5 to 2.3 percent for September signals a return to target after six months of below-range inflation.
"Supported by lower rice import tariffs and subdued global oil prices, inflation is expected to return to the two to four percent target band by the end of 2025," De Castro said.
Inflation in the Philippines eased to 3.2 percent in 2024 from an average of six percent in 2023. This year, consumer price growth has been muted, with inflation hovering below target for six straight months.
This story is from the October 07, 2025 edition of The Philippine Star.
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