{"id":14523,"date":"2025-07-30T02:03:34","date_gmt":"2025-07-30T00:03:34","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=14523"},"modified":"2025-07-30T02:03:34","modified_gmt":"2025-07-30T00:03:34","slug":"bsp-considers-potential-rate-cut-in-august","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/07\/30\/bsp-considers-potential-rate-cut-in-august\/","title":{"rendered":"BSP Considers Potential Rate Cut in August"},"content":{"rendered":"\n<p class=\"p2\">By <b>Luisa Maria Jacinta C. <\/b><span class=\"s3\"><b>Jocson,<span class=\"Apple-converted-space\">\u00a0 <\/span><\/b><\/span><i>Senior Journalist<\/i><\/p>\n<p class=\"p4\">THE Bangko Sentral ng Pilipinas <span class=\"s4\">(BSP) may persist in diminishing<\/span> interest rates during its assembly in <span class=\"s4\">August, according to its lead official.<\/span><\/p>\n<p class=\"p5\"><span class=\"s5\">BSP Governor Eli M. Remolona, Jr.<\/span> informed journalists on Tuesday that a reduction in rates remains \u201con the agenda\u201d for the Monetary Board\u2019s forthcoming policy assessment on Aug. 28.<\/p>\n<p class=\"p5\">If this occurs, it would represent the third consecutive rate cut enacted by the Philippine central bank.<\/p>\n<p class=\"p5\">The BSP has thus far decreased borrowing expenses by a cumulative 125 basis points since initiating its easing cycle in August of the previous year.<\/p>\n<p class=\"p5\">Crucial data releases, such as the gross domestic product (GDP) for the second quarter, will be made available by the next policy meeting, Mr. Remolona observed.<\/p>\n<p class=\"p5\"><span class=\"s6\">He projected GDP growth to be \u201capproximately 5.5%\u201d for the second quarter, which would be marginally swifter than the 5.4% GDP expansion in the first quarter.<\/span><\/p>\n<p class=\"p5\">The Philippine Statistics Authority is scheduled to publish second-quarter GDP figures on Aug. 7.<\/p>\n<p class=\"p5\">The government aims for growth between 5.5-6.5% this year.<\/p>\n<p class=\"p5\"><span class=\"s7\">The BSP may also persist in lowering rates even after the US begins implementing a 19% tariff on products from<\/span> <span class=\"s4\">the Philippines starting on Aug. 1.<\/span><\/p>\n<p class=\"p5\">Mr. Remolona indicated that the effect of the tariffs on the Philippine economy will be \u201cmoderate.\u201d<\/p>\n<p class=\"p5\">\u201cOn a global scale, the situation is much clearer now than before. Our challenge lies more in the global spillover impacts than in the direct influence,\u201d he stated.<\/p>\n<p class=\"p5\">\u201cNumerous sectors are exempt. We are not a large trading economy <span class=\"s6\">so the impact on us is limited.\u201d<\/span><\/p>\n<p class=\"p5\"><span class=\"s8\">The Philippines\u2019 new US tariff rate<\/span> <span class=\"s7\">is currently aligned with Indonesia, and<\/span> <span class=\"s5\">slightly beneath Vietnam\u2019s 20%.<\/span><\/p>\n<p class=\"p5\">In the meantime, the BSP head mentioned that he maintains his forecast for two additional rate cuts this year.<\/p>\n<p class=\"p5\">Post-August, the Monetary Board has two remaining sessions planned for October and December.<\/p>\n<p class=\"p5\">Inquired if a third rate cut was possible, Mr. Remolona replied that it would require \u201csomething highly unusual\u201d to justify this situation.<\/p>\n<p class=\"p5\">A significant decline in growth was also \u201cextremely unlikely,\u201d he added.<\/p>\n<p class=\"p5\">\u201cGrowth needs to decelerate dramatically\u2026 it will depend on not just the quarterly progress but also the outlook.\u201d<\/p>\n<p class=\"p5\">Meanwhile, Mr. Remolona mentioned they remain confident with the peso at the P57 level.<\/p>\n<p class=\"p5\">\u201cThat\u2019s still fairly strong,\u201d he remarked in a blend of Filipino and English.<\/p>\n<p class=\"p5\">The peso concluded at P57.31 per dollar on Tuesday, weakening by 11 centavos from its P57.20 rate on Monday. This was its weakest closing in over a month or since it reached P57.58 on June 23.<\/p>\n<p class=\"p5\">\u201cAs you are aware, we do not have a specific target for the peso. I\u2019m more focused on the potential <span class=\"s6\">inflationary repercussions.\u201d<\/span><\/p>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.bworldonline.com\/top-stories\/2025\/07\/30\/688336\/bsp-rate-cut-still-on-table-in-aug\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Luisa Maria Jacinta C. Jocson,\u00a0 Senior Journalist THE Bangko Sentral ng Pilipinas (BSP) may persist in diminishing interest rates during its assembly in August, according to its lead official. BSP Governor Eli M. Remolona, Jr. informed journalists on Tuesday that a reduction in rates remains \u201con the agenda\u201d for the Monetary Board\u2019s forthcoming policy<\/p>\n","protected":false},"author":3,"featured_media":14524,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[3150],"class_list":["post-14523","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy-and-markets","tag-return-a-list-of-comma-separated-tags-from-this-title-bsp-rate-cut-still-on-table-in-aug"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>BSP Considers Potential Rate Cut in August - WSJ-Crypto<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wsj-crypto.com\/index.php\/2025\/07\/30\/bsp-considers-potential-rate-cut-in-august\/\" \/>\n<meta property=\"og:locale\" content=\"it_IT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BSP Considers Potential Rate Cut in August - WSJ-Crypto\" \/>\n<meta property=\"og:description\" content=\"By Luisa Maria Jacinta C. Jocson,\u00a0 Senior Journalist THE Bangko Sentral ng Pilipinas (BSP) may persist in diminishing interest rates during its assembly in August, according to its lead official. BSP Governor Eli M. 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