0808 GMT - The Philippines' weaker-than-expected 3Q GDP growth is likely to reinforce the central bank's dovish tilt and pave the way for a rate cut in December, HSBC Asean economist Aris Dacanay says in a report. The drop in government construction was expected, as public infrastructure disbursements fell over 20% on year on average in July and August. "Without any immediate policy or institutional reform, history has shown us that the fiscal drag can persist for longer than a year," he says. HSBC's base case scenario is for the BSP to cut its benchmark rate by 25 bps in December.(amanda.lee@wsj.com)

(END) Dow Jones Newswires

November 07, 2025 03:08 ET (08:08 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.