Philippine inflation at a fresh 14-year high has prompted bets that the central bank will extend its monetary tightening and hit a higher-than-initially expected peak policy rate.
A VENDOR sells eggs in Marikina public market, May 30, 2022. — PHILIPPINE STAR/ WALTER BOLLOZOS
All nine analysts polled after the January inflation data see the possibility of a higher BSP terminal rate. Of that, seven flagged a longer-than-expected tightening cycle, with some seeing an end to rate increases as late as June. Inflation at the highest level since 2008 puts in question BSP Governor Felipe Medalla’s remarks last month that an end to rate increases could come this quarter. Following the latest consumer-price data, Mr. Medalla said he can’t discount further price shocks.
The Philippines’ statistician said price risks have broadened. In India too, inflation flared up in January. In contrast, price gains are on a downtrend in Indonesia and Thailand.
Indonesia Berita Terbaru, Indonesia Berita utama
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