The Bangko Sentral ng Pilipinas is likely to deliver two more rate hikes this year as core inflation continues to accelerate, a unit of a leading Japanese financial holding company said.
Economists believe the Bangko Sentral ng Pilipinas is not yet done with its tightening cycle despite a downshift to a smaller 25-basis-point hike last Thursday.
Japanese investment bank Nomura expects the Philippines’ terminal rate hitting 6.75 percent, as stubbornly high inflation would prompt the Bangko Sentral ng Pilipinas to deliver more interest rate increases.
The Thai economy is set to bounce back from a surprising contraction in the fourth quarter of 2022 as foreign tourist arrivals are likely to surprise on the upside and counter headwinds to merchandise exports from a global slowdown, say leading economists.
Japanese investment bank Nomura expects a shallower economic growth dip for the Philippines this year, raising its gross domestic product growth forecast to 5.5 percent from the original target of 4.3 percent.