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MNI BSP Preview - November 2023: A Close Call But Likely On Hold

BSP
  • The recent downside inflation surprise in the Philippines, coupled with less hawkish offshore developments (Fed on hold, US CPI miss) suggests that the BSP can hold steady tomorrow.
  • It will be a close call though with risks to the rate outlook still skewed to the upside. The BSP is also still likely to leave a hawkish impression in terms of its commentary and reiterate that it stands ready to act again.
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