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Policy
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Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
G10 Markets
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Real-time insight on key fixed income and fx markets.
Launch MNI Podcasts -
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Real-time insight of emerging markets in CEMEA, Asia and LatAm region
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Real-time insight of oil & gas markets
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MNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
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Free AccessInflation Stays Above Target Again
The peso initially weakened at the open but has pushed higher, USD/PHP now down 0.005 at 47.825.
- Data earlier showed CPI rose in-line with estimates at 4.5%, core CPI rose 3.3%. Following the release BSP Governor Diokno said the bank expects CPI to ease to within target range by the second half of 2021. He added that risks to the inflation outlook are broadly balanced, and the bank will consider the latest CPI and the outlook at the next meeting on June 24. As a note the bank target 2%-4% headline CPI inflation. Despite elevated inflation, the BSP has maintained its benchmark interest rate at a record low of 2% since November, maintaining an accommodative policy stance to support an economy facing renewed challenges from fresh coronavirus curbs. Diokno has noted previously that the central bank is ready to take immediate action to curb inflation if needed.
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Why MNI
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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.