Dollars sent home by overseas Filipino workers hit an all-time high last year after a strong finish in December amid soaring inflation, according to the Bangko Sentral ng Pilipinas.
Bank economists are divided on whether the Bangko Sentral ng Pilipinas is going for a softer 25-basis-point interest rate hike or maintain the aggressive 50-basis-point increase this week, as inflation blew past expectations to hit a fresh 14-year high of 8.7 percent in January from 8.1 percent in December.
Inflation likely eased below eight percent in January after accelerating for four consecutive months to hit a 14-year high of 8.1 percent, according to bank economists.