1026 GMT - Global events after Trump takes office will be the "key wild cards" for BSP's rate cycle in 2025, UOB economists write in a note. At its final meeting for 2024, Bangko Sentral ng Pilipinas cut rates for the third time this year, citing that while inflation is expected to stay within its target range, domestic demand remains soft, and external developments could weigh on economic activity and market sentiment in the short term, UOB highlights. Volatility in global commodity prices and currency movements are major upside risks, UOB says. The BSP will likely remain cautious and data-dependent in deciding its next steps, the economists add. UOB projects that the BSP will implement three additional 25-basis-point rate cuts by mid-2025. (kimberley.kao@wsj.com)
(END) Dow Jones Newswires
December 19, 2024 05:26 ET (10:26 GMT)
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