Philippines may hike key rate again

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Philippines may hike key rate again

ASEAN+ June 25, 2018 01:00

By PHILIPPINE DAILY INQUIRER
ASIA NEWS NETWORK
MANILA

AFTER THE PHILIPPINE central bank raised its key interest rates on June 18 for the second time this year, economists are pondering whether the the Bangko Sentral ng Pilipinas (BSP) would sanction more interest rate increases amid continuing |inflationary pressures and peso depreciation.

Japanese investment house Nomura expects the BSP to follow up last Wednesday’s tightening move with another 25-basis point hike at its next meeting in August, which will bring the overnight borrowing rate to 3.75 per cent.

British banking giant HSBC, however, said inflationary pressures had started to ease.

“We still expect headline inflation to peak on a yearly basis in the second half of 2018, but mainly due to base effects and higher oil prices, which we believe aren’t…

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