The Philippines’ central bank lowered its reverse repurchase rate by 25 bps to 6%, also adjusting the overnight deposit and lending rates to 5.5% and 6.5%, respectively. The inflation forecast has been revised to 3.1% for this year, while estimates for 2025 and 2026 have ticked up slightly to 3.3% and 3.7%, respectively. With inflation expectations well-anchored, the bank has shifted to a less restrictive stance.