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 Philippine CB Needs to Tighten Grip
 Philippine CB Needs to Tighten Grip

Philippine CB Needs to Tighten Grip

Philippine CB Needs to Tighten Grip

There is a growing consensus for the Bangko Sentral ng Pilipinas to begin reining in the policy rates or, at the very least, signal a tightening bias, as the economy needs the stabilizing hand of the central bank in the months ahead, PNA reported. Following the decision to keep the policy rates frozen yet again at last week’s final monetary board meeting for the year, analysts at ING Bank Manila and BMI Research said the BSP should tighten its grip on the policy rates soon to complement developments in the economy. BMI Research, the research arm of the Fitch Group, said rate adjustments help ensure macro stability across the Philippines. “Although inflation is still within the central bank’s target band of 2% to 4%, we note that price pressures have been mounting, and current interest rates are insufficient for an economy that is growing at around 10% in nominal terms,” BMI said.

 

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