BANGKO SENTRAL ng Pilipinas Governor Eli M. Remolona, Jr. — COURTESY OF BANGKO SENTRAL NG PILIPINAS

MANILA – The Philippine central bank is confident of achieving a 2% inflation rate this year, the lower end of its 2% to 4% target range, Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. said on Monday.

“We think we will hit 2% in 2025,” Mr. Remolona told an economic forum.

The annual inflation rate was 0.9% in July, the lowest rate since October 2019. That brought the average rate in the first seven months of 2025 to 1.7%.

Mr. Remolona told Reuters on July 28 that the central bank was on track to cut its key interest rate, currently at a two-and-a-half-year low of 5.25%, two more times this year, with the timing dependent on the outlook for growth and inflation.

The BSP’s next monetary policy review is on August 28. — Reuters

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