THE need to prop up economic growth will likely lead to a third straight policy rate cut next week by the Bangko Sentral ng Pilipinas (BSP), analysts said, even as inflation accelerated for a second straight month in November.
THE need to prop up economic growth will likely lead to a third straight policy rate cut next week by the Bangko Sentral ng Pilipinas , analysts said, even as inflation accelerated for a second straight month in November.Consumer price growth edged up to 2.5 percent last month from 2.3 percent in October, hitting the median forecast in a Manila Times poll of economists and falling within the BSP 's 2.2- to 3.0-percent estimate.Gross domestic product growth, meanwhile, markedly slowed to 5.
5 percent as monetary authorities battled a surge in inflation.With inflation growth having softened — October's 2.3 percent rose from 1.9 percent a month earlier — and the third-quarter GDP slowdown, HSBC Global Research economist Aris Dacanay said that another rate cut was likely on Dec. 19.'The only upside risk to monetary policy is the currency ,' he said, noting that it had ranged between P58.
To Keep Cutting Key Rates Analysts
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