Standard Chartered now expects BSP to hold rates in August
Standard Chartered economists have reversed their earlier call for a rate cut by the Bangko Sentral ng Pilipinas, now projecting no change at the upcoming August 27 meeting.
Standard Chartered’s Jonathan Koh and Edward Lee now anticipate the Bangko Sentral ng Pilipinas (BSP) will keep its policy rate on hold at the 27 August meeting. This marks a shift from their previous projection, which had pencilled in a rate reduction.
The revision reflects a reassessment of domestic inflation dynamics and external factors influencing the Philippine central bank’s stance. No further details were immediately available.
The BSP has maintained a steady monetary policy setting in recent months as it navigates price pressures and the peso’s performance.
Source: FXStreet Forex News