MANILA : Philippine annual inflation was on track to settle within the government's 2 per cent to 4 per cent target in the fourth quarter after it eased further in April owing to lower food prices, officials said on Friday, building the case for pausing interest rate hikes. The consumer price index rose 6
MANILA : Philippine annual inflation was on track to settle within the government's 2 per cent to 4 per cent target in the fourth quarter after it eased further in April owing to lower food prices, officials said on Friday, building the case for pausing interest rate hikes.
Slower inflation in April builds the case for the Bangko Sentral ng Pilipinas to forego an interest rate hike at its meeting on May 18, analysts said, even as the U.S. Federal Reserve raised its rates by 25 basis points this week. Robert Dan Roces, chief economist at Security Bank said he also expected the central bank would keep rates on hold this month, but added the BSP would want another round of data before deciding to end its hiking cycle.
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