Posted 11/23/2023, 11:08:26 AM
Philippine Central Bank to Maintain Hawkish Stance as Economy Expands Faster Than Expected
- Philippine central bank governor says monetary policy will remain “hawkish for a while” and could tighten further if inflation is higher than expected
- Policymakers paused rate hikes in November after inflation slowed, but are not ready to ease yet
- Peso strength recently not a major factor in policy decisions; rate cuts not on table this year
- Philippine Q3 GDP growth beat expectations even as consumer and investment activity slowed
- Officials optimistic Philippines will achieve 6-7% full-year GDP growth target, remaining one of Asia's fastest growing economies