Hilippine Monetary Authorities Announced An Off Cycle Rate Increase Of 75 Basis Points Last July As Global Inflation Continues To Rise Quot Another Bsp Hike Is Possible Especially If The Peso Exchange Would Remain Weak And Could Threaten Post New Record Levels After Posting Intraday 57 33 On September 7 News Today : Breaking News, Live Updates & Top Stories | Vimarsana

RCBC chief economist Michael Ricafort (File photo) MANILA - An economist is open to another off-cycle rate increase from the Bangko Sentral ng Pilipinas (BSP) as the United States' August 2022 inflation surpassed expectations despite a deceleration to 8.3 percent. The US consumer price index (CPI) slowed from 8.5 percent to 8.3 percent last August, but projections are for its to be only around 8.1 percent given the decline in global oil prices. Because of the higher-than-expected CPI in the world's largest economy, analysts expect the Federal Reserve to continue its aggressive policy rate normalization, a change from some earlier forecasts that the central bank may slow down a bit on its rate hike moves. The Fed's rate decisions are affecting the Philippine peso's performance, given its impact on the US dollar, thus, Philippine monetary authorities announced an off-cycle rate increase of 75 basis points last July as global inflation continues to rise. "Another off-

San carlosNegros occidentalMichael ricafortBangko sentralRizal commercial banking corporationMarket committeeFederal reserveUnited state augustCommercial banking corporationFed funds rateFederal open market committeeFed fundsRcbc chief economist michael ricafort file photo manila an is open to another off cycle rate increase from the bangko sentral ng pilipinas bsp as united states 39 august 2022 inflation surpassed expectations despitea deceleration 8 3 percent us consumer price index cpi slowed 5 lastUt projections are for its to be only around 8 1 percent given the decline in global oil prices because of higher than expected cpi world 39s largest economyNalysts expect the federal reserve to continue its aggressive policy rate normalizationA change from some earlier forecasts that the central bank may slow downa bit on its rate hike moves fed 39s decisions are affecting philippine peso performance