Interest rates in the Philippines are expected to continue rising but at a slower pace, with the Bangko Sentral ng Pilipinas seen most likely hiking its policy rate by 0.5 percentage point to 5.5 percent on Dec. 15. | RonWDomingoINQ /PDI
Mapa said that despite a recent rally of the Philippine peso against the US dollar, the BSP would raise its policy rate by 0.5 ppt and also match any move the US Federal Reserve would make in 2023.
“Growth momentum remains strong amid ongoing improvements in manufacturing and labor market conditions, and headline inflation continues to rise, touching a high of 8 percent year-on-year in November due to higher food prices and rising service costs,” the American banking giant said.
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