The Philippine economy is expected to grow by eight percent this year amid the reopening of more economic-moving sectors that will sustain recovery, according to Standard Chartered Bank.
The Philippine economy is expected to grow by eight percent this year amid the reopening of more economic-moving sectors that will sustain recovery, according to Standard Chartered Bank.
“BSP will probably hike by another 75 bps to basically contain second-round inflation pressures becoming more entrenched,” Koh told reporters in the virtual chat. He said the BSP is increasing its rates anew “given the elevated and broadening inflation and a hawkish US Federal Reserve. For 2022, with an expected eight percent GDP growth, Stanchart expects inflation will further climb to 5.2 percent average rate and slow down to 3.5 percent in 2023. For the month of July, Koh sees inflation between 5.5 percent to 5.9 percent, lower than June’s actual rate of 6.1 percent.
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