The Philippine central bank is open to delivering another rate cut in its first monetary policy meeting next year, Governor Eli Remolona said Friday.

Bangko Sentral ng Pilipinas Gov. Eli Remolona said that the central bank would lower its benchmark overnight reverse repurchase rate by 25 basis points to 5.75%. It cut its benchmark lending rate to 6.

Sweden's central bank cut its key interest rate by quarter of a percentage point to 2.50% as expected on Thursday, but said that after easing policy five times this year, it saw reasons to be more cautious as it enters 2025.

The Philippine central bank lowered its policy rate by a quarter point for the third straight meeting and said it intends to maintain a measured approach to easing, after inflation stayed on target and economic growth slowed.