Antonio Mapa News Today

DESPITE continued hawkishness, monetary authorities will likely keep interest rates unchanged well into next year before embarking on rate cuts, analysts said.

MONETARY authorities still have room to tighten policy without causing an economic contraction, Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona said on Friday.

INFLATION will likely move closer to falling back within target in July due to base effects and lower energy prices, analysts polled by The Manila Times said.

FOOD prices are expected to increase in the wake of Typhoon Egay, which last week battered the northern provinces of the country.

CLIMATE-INDUCED inflation shocks can be better addressed via nonmonetary measures, the Bangko Sentral ng Pilipinas (BSP) said, given the lag associated with monetary policy adjustments.

Money sent home by overseas Filipinos to their families rose in April, despite recession concerns plaguing developed economies.

The central bank hopes inflation will hit its 2-4% target in 2023

Data provided by Bangko Sentral ng Pilipinas on Wednesday showed that gross international reserves inched down 0.49% month-on-month to $101.3 billion as of end-May.

Consumer price growth softened in May as the domestic economy swallowed the Bangko Sentral ng Pilipinas’ aggressive rate hikes.

The Monetary Board also noted that while GDP growth has remained robust in the first quarter of 2023, demand indicators have also pointed to a potential moderation in the recent months