Free Trial

VIEW: ING: Economy Back On Track, Opens Door For BSP Rate Hike Next


ING note that “economic activity remained brisk in Q122, despite an Omicron-induced surge of COVID infections early on in the quarter. Economic re-opening as mobility restrictions were lifted helped raise GDP growth to 8.3% Y/Y, bringing it back to pre-COVID levels. This robust economic recovery coupled with above-target inflation points to policy normalisation from Bangko Sentral ng Pilipinas (BSP). BSP Governor Diokno has been keeping rates unchanged to help support the economic recovery. But with GDP now back to pre-COVID levels and with inflation accelerating, we fully expect BSP to hike policy rates next week.”

MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

To read the full story



MNI is the leading provider

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.