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

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.

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.

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.

Investors reduced further their bets on how quickly the Bank of England will cut interest rates next year after the U.S. Federal Reserve signalled it would move slowly with reducing borrowing costs. Interest rate futures on Thursday pointed to roughly 46 basis points of cuts to the BoE's benchmark Bank Rate by December 2025,