MNI BRIEF: Federal Reserve Withdraws From Climate Consortium

MNI BRIEF: Internat'l Finance Bodies Still Needed - BOE Bailey

MNI CORRECT: BOC Covid Guidance Unclear, Will Tie To Inflation

MNI China Daily Summary: Friday, January 17

MNI BRIEF: NBS Notes Favourable Conditions For China CPI

MNI BRIEF: China's Q4 GDP Grow By 5.4%, Meeting 2024 Target

MNI: US TSY TICS NET FLOWS IN NOV +$159.9B

MNI: US DEC INDUSTRIAL PROD +0.9%; CAP UTIL 77.6%

EZ/UK Bond Supply Calendar: EFSF Synd "Upcoming", Slov Due Mon

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

PHILIPPINES: Central Bank Leaves Rates Unchanged.

PHILIPPINES
EM BulletPhilippinesBulletAPACEmerging Market News
  • The BSP cut rates at its final meeting of the year in line with market expectations.
  • The BSP has moderately raised its 2025 risk-adjusted inflation forecast to +3.4% (from +3.3%), with 2026 maintained at +3.7% y/y.
  • The BSP comments suggest concerns as to upside potential for inflation, most notably from geo-political events such as a tariff war.
  • For the first time in recent meetings the BSP noted concerns the impact of a weak Peso on inflation (having declined 5% in recent months).
  • According to the MIPR function on BBG, there are significant cuts priced into the Philippines bond market.
  • As the FED pivots this week, creating doubt as to the path for interest rates globally, the risk for investors next year is the re-pricing of interest expectations. 
127 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • The BSP cut rates at its final meeting of the year in line with market expectations.
  • The BSP has moderately raised its 2025 risk-adjusted inflation forecast to +3.4% (from +3.3%), with 2026 maintained at +3.7% y/y.
  • The BSP comments suggest concerns as to upside potential for inflation, most notably from geo-political events such as a tariff war.
  • For the first time in recent meetings the BSP noted concerns the impact of a weak Peso on inflation (having declined 5% in recent months).
  • According to the MIPR function on BBG, there are significant cuts priced into the Philippines bond market.
  • As the FED pivots this week, creating doubt as to the path for interest rates globally, the risk for investors next year is the re-pricing of interest expectations.