MANILA — The Philippines central bank governor said on Wednesday a 25 basis points rate cut in August remains possible as inflation is expected to moderate in the coming months.
Inflation could have peaked already in July, with lower tariffs on rice likely to moderate inflation, central bank Governor Eli Remolona told reporters.
Another 25 bps rate cut might happen later in the year, Remolona said.
The central bank expects July annual inflation at 4.0% to 4.8%. The statistics agency will release July inflation on Aug. 6.
Monetary authorities have scheduled a rate-setting meeting on Aug. 15, the only one for the third quarter.
—Reporting by Mikhail Flores; Editing by Martin Petty
