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VIEW: ING: BSP Expected To Hold Going Into 2022

PHILIPPINES

ING note that "despite elevated inflation, Bangko Sentral ng Pilipinas (BSP) continues to push back on rate hike calls, citing the need to support the economic recovery. BSP Governor, Diokno indicated his preference to look past supply-side-induced price spikes and noted that national government intervention (pork imports or fuel subsidies) would be more effective in addressing these types of price pressures. We expect BSP to maintain its current policy setting for the balance of 2021 and we retain our expectation for a possible rate adjustment from monetary authorities in Q222."

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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