Ut 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 Economy 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 Carlos , Negros Occidental , Michael Ricafort , Bangko Sentral , Rizal Commercial Banking Corporation , Market Committee , Federal Reserve , United State August , Commercial Banking Corporation , Fed Funds Rate , Federal Open Market Committee , Fed Funds , Rcbc 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 Last , Ut 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 Economy , Nalysts Expect The Federal Reserve To Continue Its Aggressive Policy Rate Normalization , A 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 , Iven Its Impact On The Us Dollar , 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 , Uot Rizal Commercial Banking Corporation Rcbc Chief Economist Michael Ricafort Said On Thursday , He Peso Closed Sideways Against The Greenback At 57 16 Bsp 39s Key Policy Rates Have Been Increased By 175 Basis Points Since Last May , Ringing The Overnight Reverse Repurchase Rrp Rate To 3 75 Percent Economists Expect Bsp Further Hike Its Key Rates Address Interest Differentials With Fed , Hich Has Increased The Fed Funds Rate Bya Total Of 225 Basis Points To Between 2 25 50 Percent Bsp Been Raising Its Key Rates Help Address Elevated Domestic Inflation , Hich Ended Its Five Month Rise Last August When It Slowed To 6 3 Percent From 4 In The Previous Rate Of Price Increases Philippines Surpassed Government 39s 2 Target Band April Jumped 9 March Due Upticks Oil Prices Average Inflation First Eight Months This Year Stood At And Monetary Authorities Forecast Continue Jumps Until Quarter Ricafort Projects Domestic Peak Quot Around October 2022 7 Could Mathematically Ease Thereafter Thus , Urther Local Policy Rate Hikes Could Still Be Possible For The Coming Months , S Supported By Generally Strong Economic Data Also Asa Function Of Future Fed Rate Hikes As Well The Behavior Peso Exchange , Going Forward ,