DOF chief favors another rate cut to boost spending, investments

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00:00Finance Secretary Ralph Recto agrees with market expectations that the Banco Central

00:05ng Pilipinas will cut interest rates by 25 basis points this Thursday. This follows a

00:1050 basis point reduction earlier this year, bringing the reverse repurchase rate to 6%.

00:17Economists predict BSP will continue easing as inflation remains within target. The DOF chief

00:23believes lower rates will stimulate consumer spending and investments. Looking ahead,

00:28Secretary Recto expects the BSP to cut rates by 75 basis points next year depending on inflation

00:35in U.S. Federal Reserve actions. He had originally anticipated a 100 basis point cut.

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