Philippines Central Bank Probably Isn't Done with Raising Rates
Dow Jones
Aug 28
0234 GMT - The Philippines Central Bank probably isn't done with raising rates, says ING's Deepali Bhargava in a note. The impact of El Nino and elevated higher oil prices could keep headline inflation volatile in the coming months. Bangko Sentral ng Pilipinas is likely to look for convincing evidence that core inflation is easing before calling a peak in rates. ING continues to expect the central bank to deliver one additional 25bp rate increase in 4Q. On Thursday, the Philippine central bank raised interest rates for the third straight meeting.
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