Bangko Sentral ng Pilipinas Governor Eli Remolona Jr. told reporters that they were 'somewhat more dovish' as inflation expectations were now well-anchored, keeping the central bank's policymaking Monetary Board 'on track to cut in the third quarter.'The Board will only be meeting once during the period, on August 15. Bangko Sentral ng Pilipinas Governor Eli Remolona Jr. Photo from BSP'Inflation is moving closer to the midpoint of the 2.0 to 4.
In a statement issued following the Monetary Board meeting, the BSP said that risks to the inflation outlook had now shifted to the downside, prompting revisions to inflation forecasts for this year and the next.The Monetary Board trimmed its risk-adjusted forecast for 2024 to 3.1 percent from 3.8 percent and that for 2025 was also cut to 3.1 percent from 3.7 percent.The baseline forecasts for 2024 and 2025 were lowered to 3.3 percent and 3.1 percent, respectively, from 3.5 percent and 3.
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