Fx News

Philippines: BSP expected to hike rates this week – UOB

Economist at UOB Group Lee Sue Ann expects the Bangko Sentral ng Pilipinas (BSP) to elevate the coverage fee by way of 25 bps later in the week.

Key Quotes
“We are retaining our BSP price name of two greater 25 bps hikes at the subsequent two conferences in May and Jun, earlier than taking a pause at 6.75% in 2H23.”

“That said, we do now not rule out the reality that the opportunity of a transient pastime price pause through BSP at this coming assembly has extremely expanded given latest economic coverage selections made via regional central banks, rising dangers of a gloomier world increase outlook, and growing world monetary stress.”

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