LOWER-THAN-EXPECTED June inflation has raised the likelihood of the Bangko Sentral ng Pilipinas cutting key interest rates next month, analysts said.Consumer price growth slowed to 3.7 percent in June, easing from May's 3.9 percent and below the 3.9 percent median in a Manila Times poll of economists. It ended a four-month rise and bucked earlier expectations of a second-quarter breach of the central bank's 2.0- to 4.0-percent target.
''FX pass through is unlikely to be a major concern for the monetary authorities for at least six months,' he added.Pantheon Macroeconomics economist Miguel Chanco said he was keeping a full-year inflation forecast of 3.3 percent and that price growth would be at a 'fairly moderate pace that we believe will persist in 2025, giving the BSP enough room to normalize policy gradually.