- The Bangko Sentral ng Pilipinas is on track to raise its key rate for a fourth consecutive meeting.
- 24 of 25 analysts in a poll expect a 25 basis point increase to 5.25% on Thursday; one predicts a half-point hike.
- A severe El Niño dry spell threatens to further fan resurgent inflation, the driver of the tightening bias.
Quotes
“The Bangko Sentral ng Pilipinas will increase the target reverse repurchase rate by 25 basis points to 5.25% on Thursday”
“The Philippine central bank is on track to raise the key rate for a fourth consecutive meeting”