The Department of Finance (DOF) is projecting a 3.4% full-year inflation rate at the end of 2024.

In a media briefing at Malacanang on Tuesday, DOF Secretary Ralph Recto said the figure is within the target of the Bangko Sentral ng Pilipinas (BSP).

“We expect it to be within the target range of the BSP… of anywhere between 2 to 4 percent. So, for the full year, we’re looking at the total inflation rate to be about 3.4 percent more or less,” Recto said.

Meanwhile, Recto reported that the DOF is set to meet with the BSP regarding interest rates on government borrowings. Also to be discussed is the proposal to further cut interest rates for personal loans.

“And it will be good na magkakaroon din kami ng BSP meeting by October,” he said.

“And possibly we can reduce interest rates further. Mas maliit ngayon iyong interest rate na babayaran ng gobyerno. Pero higit sa lahat, pababa na rin iyong interest rate ? halimbawa sa credit card ni Juan Dela Cruz papunta sa Pasko,” Recto added. Presidential News Desk