Philippines BSP Says It’s Nearing End of Easing After Latest Cut

The Philippine central bank may be nearing the end of its monetary easing cycle with inflation in a “sweet spot,” after policymakers cut the benchmark rate for the third straight meeting, according to Governor Eli Remolona.

There’s space for another rate cut this year and that may be the last for the current easing cycle, according to Remolona. “I think that’s the likely evolution of the policy rate,” he said at a briefing on Thursday after the Bangko Sentral ng Pilipinas reduced its overnight target reverse repurchase rate by 25 basis points to 5%.