0603 GMT - The weak April inflation print bodes well for the Philippine economy, given an uncertain trade and global economic outlook, HSBC Global Research's Aris Dacanay writes in a note. Headline inflation was at 1.4% on year in April, marking the second straight month that it fell below the Philippine central bank's target band of 2%-4%, the Asean economist says. Low inflation will give the BSP room to ease even further to help crank the domestic economy through credit, he adds. HSBC's baseline scenario is for the BSP to cut its policy rate to 5.00% by 4Q, with the next rate cut expected in August. However, there's a risk that the BSP could cut earlier and to possibly to as low as 4.75% by year-end, given how much inflation has been surprising to the downside, Dacanay says. (amanda.lee@wsj.com)
(END) Dow Jones Newswires
May 06, 2025 02:03 ET (06:03 GMT)
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