Philippines Macroeconomist/Strategist

Jun Trinidad

Macroeconomics

<p><strong>Executive Summary: </strong>Softening annualized inflation rates in April argue for an unchanged policy rate, which remains my view.  But in the coming meeting (May 10) of the Monetary Board (MB) of the Bangko Sentral ng Pilipinas (BSP), the likelihood of a rate hike has risen driven by the need to strengthen policy credibility. The recent challenge posed by higher inflation overshooting BSP’s target range in parallel with inflation expectations adrift, could undermine credibility unless firmer monetary…</p>

Executive Summary: Softening annualized inflation rates in April argue for an unchanged policy rate, which remains my view.  But in the coming meeting (May 10) of the Monetary Board (MB) of the Bangko Sentral ng Pilipinas (BSP), the likelihood of a rate hike has risen driven by the need to strengthen policy credibility. The recent challenge posed by higher inflation overshooting BSP’s target range in parallel with inflation expectations adrift, could undermine credibility unless firmer monetary…

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