Read this in The Manila Times digital edition.
DOMESTIC consumption appears to be recovering with inflation having receded and as wages and jobs gain momentum, Bank of America (BofA) said, and slower price growth will likely prompt the Bangko Sentral ng Pilipinas (BSP) to keep cutting key interest rates next year.
"Consumption growth looks to have bottomed in early 2024" and "may be a better contributor to GDP (gross domestic product) growth going forward," the bank said in a November 13 report.
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