The Bangko Sentral ng Pilipinas (BSP) is widely expected to keep the key interest rate at its current level on Thursday to mitigate possible inflationary pressures and to support the peso against the dollar.
“The BSP can afford a more dovish slant on Thursday following downside surprises on headline inflation prints for April and May. Lower power prices and slower annual increases in rice prices for June may actually lead the BSP to increasingly hint on an August rate cut,” he said.
“The BSP can afford a more dovish slant on Thursday following downside surprises on headline inflation prints for April and May. Lower power prices and slower annual increases in rice prices for June may actually lead the BSP to increasingly hint on an August rate cut,” he said. “We have a baseline view that the domestic policy rate could be reduced by 25 basis points each in October and December,” he said.
Security Bank chief economist Robert Dan Roces said keeping interest rates on Thursday will be influenced by the depreciation of the peso against the dollar.
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