MANILA, Philippines – NAGDESISYON ang Monetary Board ng Bangko Sentral ng Pilipinas (BSP) na bawasan ang policy rates ng 25 basis points.
Ang unang tapyas ay halos para sa 4 na taon at ang first adjustment simula ng off-cycle hike noong October 2023.
Ang target na reverse repurchase (RRP) rate ay binawasan ng 6.2%, habang ang overnight deposit rate ay adjusted naman sa 5.75%, at ang overnight lending facility rate ay itinakda sa 6.75%.
Ito ang kauna-unahang adjustment simula ng 25-basis point off-cycle hike noong October 2023, at ‘first cut’ simula ng 25-basis point reduction noong November 2020.
“The balance or risks to the inflation outlook continues to lean toward the downside for 2024 and 2025 with a modest tilt to the upside for 2026,” ayon kay BSP Governor Eli Remolona Jr.
“The downside risks are linked mainly to lower import tariffs on rice, while upside risks could come from higher electricity rates and external factors,” aniya pa rin.
Ito’y matapos na itaas ng Bangko Sentral ang risk-adjusted inflation forecast nito para sa 2024 sa 3.3% mula sa 3.1% outlook noong Hunto.
Makikita sa pinakabagong data na ang “inflation clocked in at a nine-month high of 4.4% in July.”
“With inflation on a target-consistent path, the current macroeconomic outlook supports a calibrated shift to a less restrictive monetary policy stance. Nonetheless, monetary authorities remain mindful of lingering upside risks to prices,” ang sinabi pa ni Remolona.
Nitong Mayo, nagpahiwatig si Remolona ng posibilidad na gumaan ang rates sa Agosto, sinabi nito na ang Bangko Sentral ay “less hawkish with the latest economic growth data pointing to “largely intact” domestic output growth in the medium term.”
Sinasabing lumago ang ekonomiya ng Pilipinas ng 6.3% sa second quarter, itinuturing na pinakamalakas na pagpapakita sa limang quarters, “thanks to strong consumption activities during the period.”
Samantala, araw ng Huwebes, sinabi ni Remolona na mas kumpiyansa ang central bank sa ‘deceleration’ ng inflation kaysa sa ‘acceleration’ ng ekonomiya.
“[I’m] somewhat more confident in the inflation numbers coming down than the GDP (gross domestic product) numbers going up,” aniya pa rin.
Binawasan din ng BSP ang risk-adjusted inflation forecast nito para sa 2025 ng 2.9% mula 3.1% sa nakaraan at inanunsyo ang 3.3% forecast para sa 2026. Kris Jose
