Philippine Central Bank Likely to Extend Rate-Hike Streak
Dow Jones
Aug 05
0439 GMT - Bangko Sentral ng Pilipinas is likely to raise its policy rate by another 25 bps later this month, even as headline inflation has moderated in recent months, UOB economists say in a research note. Inflation spiked to a more-than-three-year high in April amid the global energy shock. While inflation cooled to 6.2% in July, it remains above the BSP's 2%-4% target, UOB says. However, easing external risks might give the BSP room to pause further tightening later this year, amid signs of muted domestic demand and persistent soft growth. The BSP has raised rates at two consecutive meetings this year.
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