Tightening cycle over; cuts to start next year

Jun 27, 2023 12:42 am

PHILIPPINE monetary authorities are done with hiking interest rates but will only begin cutting in 2024, a Fitch Group unit said.

'Given that inflation is falling faster than what we originally anticipated, economic activity is starting to soften and the US Fed (Federal Reserve) nearing the end of its tightening cycle, we now think that policy rates will be kept on hold for the remainder of the year, and only be cut in 2024,' BMI Country Risk & Industry Research said in a June 23 commentary.

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