Uncategorized

Philippines Central Bank Chief Expects One More Rate Hike This Year, Possibly in March

Philippines economy fiscal money trade concept illustration of financial banking budget with flag map and currency vector

The Philippine central bank will likely raise interest rates one more time this year and that could happen at its next monetary policy meeting in March, most likely by 25 basis points, its governor said on Friday. Inflation running at a 14-year high of 8.7% in January has been a concern for the Bangko Sentral ng Pilipinas (BSP), but if the consumer price index (CPI) is negative in February on a month-on-month basis, there would be no need for a rate hike, governor Felipe Medalla told reporters. The central bank raised its benchmark interest rate by 50 basis points on Feb. 16 at its first rate-setting meeting this year. The monetary authorities, which have raised rates eight times for a total of 400 basis points since last year, are due to next meet on March 23. Medalla, speaking on the sidelines of a BSP dinner, said he hoped non-monetary measures would slow down inflation and the BSP was working under a scenario of inflation being under 4% by November.

Related posts
Uncategorized

Tesla Stock Is No Longer a Buy At Goldman Sachs; Shares Slip

Goldman Sachs analysts downgraded Tesla (NASDAQ:TSLA) stock to Neutral from Buy following a massive…
Read more
Uncategorized

Dollar Steadies After Powell’s Testimony; Sterling Awaits BOE Meeting

The U.S. dollar stabilized in early European trade Thursday near a one-month low after the first day…
Read more
Uncategorized

Can HDFC AMC make it Back to The MSCI Index After Abrdn Stake Sale?

Abrdn’s clean-up block trade of a 10.2 percent stake in HDFC AMC will increase the company’s…
Read more
Newsletter
Become a Trendsetter
Sign up for Davenport’s Daily Digest and get the best of Davenport, tailored for you. [mc4wp_form id="729"]

Leave a Reply

Your email address will not be published. Required fields are marked *