Michael Wan, an economist at Credit Suisse, says the BSP may hike its benchmark rate by 25 basis points around the second quarter of the year. But he also expects the central bank to hike rates again in the second half. The BSP last raised rates by 25 basis points in September , but Wan thinks that the central bank will have to do this again soon.
Annual inflation rose to 3. February's inflation rate was also at the top end of the BSP's percent target range. He said that an interest rate hike is positive because it indicates that the BSP is ahead of the curve when it comes to inflation and is managing the risk when it comes to things like the deteriorating current account deficit.
While the BSP expects the country's current account to shrink but remain positive this year, Wan says the Philippines is likely to post its first current account deficit in 14 years. Wan said the projected current account deficit is a factor in the weakness of the peso. Insecurities, intrigues, obstacles in 'The Crown' Season 2. Paggawa ng bag, bagong pag-asa ang hatid sa Yolanda survivors.
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Uniquely Pinoy drinks, soon to roll into your neighborhood. Analyst sees BSP hiking rates twice this year. Wan cites strong domestic demand and robust credit as among factors driving up inflation. Ex-lovers Jericho, Heart attend same event WalangPasok:More...