Bangko Sentral ng Pilipinas (Central Bank of the Philippines). REUTERS/Romeo Ranoco/File Photo

The Bangko Sentral ng Pilipinas delivers a 25-basis point rate cut at the final policy meeting of the Monetary Board for 2024, reducing the key rate to 5.75 percent.

At a press conference, BSP Governor Eli Remolona Jr. said inflation is Still expected to stay within the 2 to 4 percent target range of the central bank

While the Marcos administration has been exerting efforts to attract more green power developments to the market, the sector may be dealing with some hitches as the projects are now “being processed for termination” due to the companies’ failure to meet committed timelines, the agency noted Sunday.

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But he said domestic demand would remain firm but subdued.

”Looking ahead, the Monetary Board will maintain a measured approach to monetary policy easing to ensure price stability conducive to sustainable economic growth and employment,” Remolona said.

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