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BSP Ready To Adjust MonPol Settings If Supply-Side Price Pressures Spill Over

PHP

Spot USD/PHP trades -0.035 at PHP52.448 as the peso regains poise in the wake of yesterday's sell-off. Bears eye the 50-DMA at PHP52.118 for initial support, while bulls keep an eye on key resistance from the PHP52.500 figure.

  • USD/PHP 1-month NDF last seen +0.050 at PHP52.740. Topside focus falls on May 9 high of PHP53.250, while bears look for losses past the 50-DMA at PHP52.388.
  • Philippine Pres Duterte used his post-Cabinet televised address to urge his successor to ditch the party-list electoral system.
  • Looking into the rear-view mirror, the Philippine economy extended its run of above-forecast growth in Q1, data released Thursday showed.
  • BSP Gov Diokno reacted by noting that the central bank is "ready to adjust" monetary policy settings if it sees "material risk of supply-side pressures spilling over to the demand side."
  • Worth flagging in advance that Bangko Sentral ng Pilipinas will deliver its next monetary policy decision on May 19.
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Spot USD/PHP trades -0.035 at PHP52.448 as the peso regains poise in the wake of yesterday's sell-off. Bears eye the 50-DMA at PHP52.118 for initial support, while bulls keep an eye on key resistance from the PHP52.500 figure.

  • USD/PHP 1-month NDF last seen +0.050 at PHP52.740. Topside focus falls on May 9 high of PHP53.250, while bears look for losses past the 50-DMA at PHP52.388.
  • Philippine Pres Duterte used his post-Cabinet televised address to urge his successor to ditch the party-list electoral system.
  • Looking into the rear-view mirror, the Philippine economy extended its run of above-forecast growth in Q1, data released Thursday showed.
  • BSP Gov Diokno reacted by noting that the central bank is "ready to adjust" monetary policy settings if it sees "material risk of supply-side pressures spilling over to the demand side."
  • Worth flagging in advance that Bangko Sentral ng Pilipinas will deliver its next monetary policy decision on May 19.