Forex-tied inflation behind rate-cut brake

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The story "Forex-tied inflation behind rate-cut brake" was covered 1 weeks ago by Business Mirror, a news publisher based in Philippines.

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Forex-tied inflation behind rate-cut brake - Business Mirror

Quick Summary:

ECONOMISTS noted on Friday that the Bangko Sentral ng Pilipinas’ (BSP) recent move of hitting the brakes on policy rate cuts will help lessen the risk of foreign exchange-induced inflation, taking into account the"renewed” strength of the US dollar.

A day after the seven-man Monetary Board of the BSP decided to keep the policy rate at 5.75 percent, some economists shifted the timing of their rate cut forecasts.

For her part, Citi Economist for the Philippines Nalin Chutchotitham said, “We revise our expectation of the next 25-bp rate cuts to April, August and December.