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Dec CPI On Tap, Focus On Whether We Drop Inside the BSP's Target Band

PHILIPPINES

Philippines Dec CPI prints in around 25 mins. The market expects the y/y outcome at 4.0%, the prior was 4.1%. The forecast range is fairly tight at 3.7-4.4%. This is similar to BSP's expectation (3.6-4.4%).

  • BSP Governor Remolona stated late yesterday that the central bank will not and has not tightened monetary policy too much. The Governor added he hopes inflation spends most of 2024 inside the BSP's 2-4% target band.

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