The central bank of the Philippines has cut interest rates for the fourth consecutive time this year
Manila, October 9th (Reporter Zhang Xinglong) The Central Bank of the Philippines announced on the 9th that it will lower the key policy interest rate by 25 basis points to 4.75%. This is the fourth consecutive rate cut by the Philippine Central Bank this year.
At the same time, the overnight deposit and loan rates have been lowered to 4.25% and 5.25% respectively. The Central Bank of the Philippines had already cut the interest rate by 25 basis points in April, June and August this year. Since last year, the bank has cumulatively lowered the key policy interest rate by 175 basis points.
The Central Bank of the Philippines stated that the stable inflation outlook is an important basis for this rate cut. According to the latest forecast, the annual inflation expectation for the Philippines in 2025 is 1.7%, consistent with the previous forecast; the inflation expectations for 2026 and 2027 are 3.1% and 2.8% respectively, both of which have been lowered by 0.2 and 0.6 percentage points compared to the previous forecast.