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MNI BSP Preview - November 2022: Keeping Up With Fed

MNI Point of View:

  • Governor Medalla guided that the Bangko Sentral will be raising the key policy rate by 75bp come the end of this week's monetary policy review, in order to keep the interest-rate differential with the U.S. unchanged.
  • Inflation continues to quicken amid higher food prices, with the local statistics authority warning that it may gather more pace in the coming months on the back of the recent typhoons.
  • The Philippine peso has been the worst performer in emerging Asia this year, accentuating imported inflation. The onus is on the BSP to rescue the domestic currency, which comes under additional pressure from the Philippines' "twin deficit."

Please use the following link to access the full preview: MNI BSP Preview November 2022.pdf

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