Philippine inflation to settle around 3.2% in 2024, finance minister says

MANILA (Reuters) – The Philippines’ inflation rate could settle around 3.2% this year, its finance minister said on Friday, giving room for the central bank to further cut rates.

“This gives the BSP more room to be aggressive in its monetary policy easing to help the economy grow at a faster rate and support the government in increasing its revenue collections,” Finance Minister Ralph Recto said in a statement.

Inflation was at 1.9% in September, the slowest in more than four years.