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VIEW: Goldman: CPI Risk From Food Prices Key For BSP Path

PHILIPPINES

Goldman Sachs note that "food supply constraints remain a key bi-directional risk to our forecasts, as if supply constraints tighten further in coming months - then the food inflation trajectory could be higher than we currently forecast, or vice versa. With headline inflation slowly returning to the BSP's inflation target band of 2%-4% on our forecasts and slow vaccination progress likely to weigh on activity through early next year, we expect the BSP to be patient in normalizing policy settings, keeping the policy rate on hold until late 2022."

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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