The Philippine Central Bank is likely to further hike rates, despite inflation easing in June, says ING's Deepali Bhargava in a note. Prices eased last month, offering some reassurance that inflation has peaked. However, underlying price pressures remain elevated and are likely to keep Bangko Sentral ng Pilipinas cautious in its policy stance. Headline inflation could also remain volatile, as a potential strong El Nino could push up food prices in the coming months, Bhargava adds. ING expects the BSP to deliver another 50 bps of rate hikes in 2H. (amanda.lee@wsj.com)
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Philippine Central Bank Likely to Hike Rates Despite Inflation Easing — Market Talk
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The Philippine Central Bank is likely to further hike rates, despite inflation easing in June, says ING's Deepali Bhargava in a note. Prices eased last month, offering some reassurance that inflation has peaked. However, underlying price pressures remain elevated and are likely to keep Bangko Sentr…