DBS Bank of Singapore expects an interest rate hike in the March meeting of the policy-making Monetary Board of the Bangko Sentral ng Pilipinas as inflation is seen to continue to accelerate further.
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DBS Group Research economist Gundy Cahyadi in a report over the weekend cited the statement of the regulator that it was ready to “take appropriate measures as necessary to ensure that the monetary policy stance continues to support price and financial stability.”
“While the BSP expects the current inflation pressures to be transitory, the central bank continues to see upward risks to inflation going forward,” Cahyadi said.
“We reckon the BSP is prepping the market for a potential rate hike at its next meeting on March 22,” he said.
