Philippines Central Bank Likely to Deliver One More Rate Hike in 4Q
Dow Jones
3 hours ago
0411 GMT - Bangko Sentral ng Pilipinas is likely to deliver one additional 25 bps rate hike in 4Q, despite August headline inflation easing, ING's Deepali Bhargava says in a note. Headline CPI cooled marginally to 6.1% on year in August from July's 6.2%. However, core CPI remained sticky at above 4% last month, while higher oil prices could keep headline inflation elevated. Rising food price risks from El Nino could also keep inflation above BSP's 2%-4% target range. These factors should keep the BSP focused on ensuring that inflation returns to target on a sustained basis, she says. The BSP has hiked rates thrice in a row this year.
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