Philippines: BSP Delivers Another 25bp Hike

The BSP raised interest rates by 25bp to 4.75% as inflation pressures mount. Goldman Sachs expects further tightening to reach 5.50%.

Key Takeaways

• 1.BSP hiked the policy rate by 25bp to 4.75% in line with expectations.
• 2.Inflation forecasts for 2026 and 2027 were revised upward.
• 3.Expectation for three additional 25bp hikes, targeting a terminal rate of 5.50%.

Table of Contents

• Key numbers
• Main points
• Disclosure Appendix

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