According to Jinshi, Barclays economist Shreya Sodhani said in a research report that the Philippine central bank may cut interest rates by 25 basis points in October and December respectively. Although a 50 basis point cut is less likely, it is also within the scope of consideration.

The Philippines' overall CPI slowed sharply to 1.9% year-on-year in September, below the bottom of the central bank's forecast range of 2.0%-2.8% and well below Barclays' forecast. After the CPI was released, Barclays lowered its inflation forecast for 2024 from 3.3% to 3.2%.