The Philippine central bank has decided to keep its benchmark interest rate steady at 6.5% on June 27, marking the sixth consecutive time it has maintained this rate since an off-cycle hike in October 2023. The decision comes as inflation concerns persist, with uncertainties in food items, electricity, and transport costs. The peso remained unchanged, last up 0.20% at 58.780 per US dollar. The central bank governor indicated that a rate cut in August is still possible, with potential reductions of 25 basis points each in the third and fourth quarters of 2024. The external environment remains uncertain, and the central bank retains the right to intervene in the foreign exchange market during periods of volatility. The interest rate remains at a 17-year high as price risks linger, with rice prices being a downside risk.
Banco de Mexico's governor says a reduction in peso volatility has opened the door for the central bank to consider interest rate cuts in future decisions, @mayaaverbuch @cmillanr report https://t.co/wQ4kydZaoa
⚠️ PHILIPPINE CBANK: JUNE ANNUAL INFLATION LIKELY WITHIN RANGE OF 3.4% TO 4.2%
Mexico kept borrowing costs unchanged near a record high, as the combination of still rising consumer prices and peso volatility sidelined the central bank for a second straight meeting. https://t.co/6GtNPqEWod via @economics @mayaaverbuch @michaelob_mex
Mexico kept borrowing costs unchanged near a record high, as the combination of still rising consumer prices and peso volatility sidelined the central bank for a second straight meeting. https://t.co/wn21DFpigP
🇲🇽 Interest Rate Decision Actual: 11% Expected: 11% Previous: 11% https://t.co/rdT5wcEQGv
Banco de México’s Governing Board decided to maintain the target for the overnight interbank interest rate at 11.00%. (Full Statement) https://t.co/KFYtJw4JYh https://t.co/cMYlLeilnK
🇲🇽 Interest Rate Decision Actual: 11.00% Expected: 11% Previous: 11.00% https://t.co/rdT5wcEQGv
Banxico Holds Key Rate At 11%, As Expected
Heads Up:🇲🇽 Interest Rate Decision due at 19:00 GMT (15min) Expected: 11% Previous: 11% https://t.co/rdT5wcEQGv
BANK OF ENGLAND WILL PROBABLY CUT RATES IN AUGUST, FORMER BOE MPC MEMBER SAUNDERS TELLS REUTERS GLOBAL MARKETS FORUM
Former BoE MPC Member Saunders Says BoE Will Probably Cut Rates In August - Reuters Global Markets Forum - Sees BoE Cash Rate At 3.5% By End-2025 - Expect Two Or Three BoE Rate Cuts This Year
⚠️ PHILIPPINES INTERAGENCY: **2025 BUDGET SEEN AT 6.352 TRILLION PESOS **2025 BUDGET 10.1% HIGHER THAN 2024 NATIONAL BUDGET
⚠️ PHILIPPINES CBANK OFFICIAL: WE RETAIN RIGHT TO GO INTO FX MARKET DURING VOLATILITY THAT COULD DISANCHOR INFLATION EXPECTATIONS
⚠️ PHILIPPINES ECON MINISTER: CONFIDENT WE CAN HIT GROWTH TARGET FOR 2024
⚠️ PHILIPPINES INTERAGENCY: COMMITTED TO SUSTAINING HIGH GROWTH TRAJECTORY OF ECONOMY
⚠️ PHILIPPINES BUDGET MINISTER: NEW BUDGET DEFICIT PATH TO DECLINE MORE REALISTICALLY, SUSTAINABLY
⚠️ PHILIPPINES INTERAGENCY: **KEEPS 2028 BUDGET DEFICIT PROGRAMME AT 3.7% OF GDP **KEEPS 2027 BUDGET DEFICIT PROGRAMME AT 4.1% OF GDP **KEEPS 2026 BUDGET DEFICIT PROGRAMME AT 4.7% OF GDP
⚠️ PHILIPPINES INTERAGENCY: **KEEPS 2024 BUDGET DEFICIT PROGRAMME AT 5.6% OF GDP **REVISES 2025 BUDGET DEFICIT PROGRAMME TO 5.3% OF GDP (PREVIOUS: 5.2% OF GDP)
Philippine central bank chief says August rate cut 'more likely' than before https://t.co/EAyGhGFAMH
⚠️ PHILIPPINE GOVERNMENT REPORTS -174.9 BLN PESOS BUDGET BALANCE IN MAY
⚠️ PHILIPPINE CBANK GOVERNOR: **WE'RE LIKELY TO REDUCE BY 25 BASIS POINTS AT A TIME **COULD CUT BY 25 BASIS POINTS EACH IN Q3, Q4 **CUT IN BANKS' RESERVE REQUIREMENTS BEING DISCUSSED, HAVEN'T DECIDED ON TIMING
⚠️ PHILIPPINE CBANK GOVERNOR: WE DON'T WANT PESO TO DEPRECIATE TOO SHARPLY
The Bangko Sentral ng Pilipinas retains its key policy rate at 6.5% on Thursday, June 27, marking the sixth straight time it kept interest rates steady since an off-cycle hike in October 2023. | via @lanceyu_ RELATED: https://t.co/Ot8rubH9Yq https://t.co/juVkXlIcxt
⚠️ PHILIPPINE CBANK GOVERNOR: **THERE'S STILL UNCERTAINTY IN FOOD ITEMS **UNCERTAINTY REMAINS IN ELECTRICITY, TRANSPORT **RICE PRICES A DOWNSIDE RISK
Philippine central bank keeps rates steady as inflation concerns linger https://t.co/IVBzSbQKr9
The Philippine central bank keeps its benchmark interest rate unchanged at a 17-year high as the peso slumped and price risks linger. https://t.co/1zMVSaTVCk
🇵🇭 Interest Rate Decision Actual: 6.5% Expected: 6.5% Previous: 6.5% https://t.co/rdT5wcEQGv
⚠️ PHILIPPINE CBANK: **AUGUST RATE CUT STILL POSSIBLE **AUGUST CUT SOMEWHAT MORE LIKELY
⚠️ PHILIPPINE CBANK: WE CONTINUE TO SEE UNCERTAINTY IN EXTERNAL ENVIRONMENT
⚠️ PHILIPPINE PESO UNCHANGED AFTER https://t.co/wvKgrbKFj1 KEEPS BENCHMARK RATE STEADY, LAST UP 0.20% AT 58.780 PER US DOLLAR
🇵🇭 Interest Rate Decision Actual: 6.50% Expected: 6.5% Previous: 6.50% https://t.co/rdT5wcEQGv
Heads Up:🇵🇭 Interest Rate Decision due at 07:00 GMT (15min) Expected: 6.5% Previous: 6.5% https://t.co/rdT5wcEQGv
The Philippine central bank is widely expected to keep its benchmark interest rate steady, with focus shifting to whether monetary easing will begin ahead of the Federal Reserve’s https://t.co/2OIaDeboBJ