INTEREST RATES TINAPYASAN NG 25 BASIS POINTS

MULING binabaan ng Bangko Sentral ng Pilipinas (BSP) ang interest rates sa huling monetary policy-setting meeting nito para sa 2024.

Tinapyasan ng BSP ang benchmark target reverse repurchase rate nito ng 25 basis points, para bumaba sa 5.75 percent. Sinimulan ng benchmark ang taon sa 6.5 percent.

Samantala, ang overnight deposit rate ay ibinaba sa 5.25%, at ang overnight lending facility rate sa 6.25% epektibo ngayong Biyernes, December 20.

Kasunod ito ng 25-basis-point cut noong October, at panibagong 25-basis-point cut noong August na unang pagbabawas sa loob ng halos apat na taon at ang unang adjustment magmula sa off-cycle hike noong October 2023.

Ang pagtapyas ay ginawa kahit inaasahan ng central bank ang inflation na mag-average sa 3.2% ngayong taon, mas mataas sa 3.1% outlook na iniulat noong October kasunod ng weather disturbances sa nakalipas na dalawang buwan.

“The balance of risks to the inflation outlook continues to lean to the upside due largely to potential upward adjustments in transport fares and electricity rates. The impact of lower import tariffs on rice remains the main downside risk to inflation,” sabi ni BSP governor Eli Remolona Jr. sa isang briefing.

Tinaasan ng Manila Electric Company (Meralco) ang household electricity rate nito para sa December ng 10.48 centavos per kilowatt-hour (kWh), kung kaya ang overall rate para sa isang typical household ay naging P11.9617 per kWh na.

“On balance, the within-target inflation outlook and well-anchored inflation expectations continue to support the BSP’s shift toward less restrictive monetary policy. Nonetheless, the monetary authority will continue to closely monitor the emerging upside risks to inflation, notably geopolitical factors,” ayon pa kay Remolona.

“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,” dagdag pa niya.