00:00The Department of Finance said the Marcos administration made extra effort to shield
00:05the purchasing power of the Filipinos from soaring food prices, successfully keeping
00:10inflation within target range in 2024.
00:13According to Finance Secretary Ralph Recto, the 2024 inflation rate is within target levels
00:18despite challenges thanks to government efforts on food security, enabling interest rate cuts
00:24to boost economic growth.
00:26DOF further added the positive domestic inflation outlook and enabled the Banco Central ng Pilipinas
00:32to be the first in ASEAN to start its monetary policy, easing and reducing policy interest
00:37rates by a total of 50 basis points and lowering reserve requirements for financial intermediaries
00:43by 250 basis points to boost growth.
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