Philippines’ slow growth raises chance of December rate cut, says central bank chief

MANILA — A slower growth outlook for
the Philippines raises the chances of another policy rate cut at a policy review next week, the central bank governor said on Wednesday.

Bangko Sentral ng Pilipinas Governor Eli Remolona said growth this year was likely to have slowed to between 4% and 5% for the year.

“I think we all agree that for 2025, our growth will be slow,” Mr. Remolona told reporters.

Data last month showed annual growth slowed to a four-year low of 4.0% in the third quarter. Inflation has averaged 1.7% over the first 10 months of 2025, below the BSP’s 2%-4% target range.

The BSP’s monetary board will meet on December 11 to review its benchmark rate. The BSP has cut its policy rate at its past four meetings, taking it to a three-year low of 4.75%.— Reuters