Philippines Central Bank Could Tighten Policy as Inflation Rebounds
Dow Jones
3 hours ago
0844 GMT - The odds of Bangko Sentral ng Pilipinas further tightening its policy has increased, after inflation rebounded in September, UOB economists say in a note. Headline CPI re-accelerated, while core inflation hit a 34-month high, despite 75 bps of cumulative rate increases this year. This points to persistent underlying price pressures, they say. Along with a more hawkish Federal Reserve, UOB now expects the BSP to raise its policy rate by 25 bps at each of its next three meetings through 1Q 2027. This would bring the policy rate to 5.75% from 5.00% currently, after which the central bank is expected to stay on hold for the rest of 2027.
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