ING: No end to BSP easing yet

Netherlands-based financial giant ING does not expect the Bangko Sentral ng Pilipinas (BSP) to end its easing cycle in the upcoming monetary policy meeting, citing below-target inflation and a continued appreciation of the peso.

- By DERCO ROSAL

These factors, coupled with “high real rates, and uncertainty over global growth, reinforce our view that monetary policy easing is far from over,” Deepali Bhargava, head of research at ING Asia-Pacific, said in the bank’s week-ahead report published Friday, June 13.

The Monetary Board (MB), the BSP’s top policy-making body, will determine the next monetary policy stance on June 19, Thursday next week.

Following an expected extension of interest rate cuts by a quarter point this month, the MB’s next monetary policy decision will be on Aug. 28, the only meeting in the third quarter. The two remaining policy meetings for 2025 will be in the fourth quarter, on Oct. 9 and Dec. 11.