October 15, 2024 02:10 GMT
MNI BSP Preview - Oct 2024: 25bp Cut Likely.
We along with market consensus expect the BSP to cut rates at tomorrow's meeting.
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Executive Summary
- September's CPI was the slowest level since May 2020, with all items in the CPI basket were weaker.
- At the August meeting, the Central Bank' statement noted 'The balance of risks to the inflation outlook continues to lean toward the downside for 2024 and 2025'.
- The softening in pricing pressures opens the door for a further rate cut this month, following the BSP's cut at its August meeting.
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