Philippines: Inflation surprised to the downside in February – UOB – by pabspiovano Philippines Inflation CPI Banks
UOB Group’s Senior Economist Julia Goh and Economist Loke Siew Ting assess the latest release of inflation figures in the Philippines.“The Philippines’ headline inflation unexpectedly reversed course and moderated for the first time in six months to 8.6% y/y in Feb from a 14-year high of 8.7% in the preceding month. It defied our expectation and Bloomberg consensus for a continued acceleration to 9.1% and 8.9% respectively.
remain tilted to the upside and there are rising expectations for a higher US Fed Funds Target Rate. We stick to our call for a 25bps hike in the overnight reverse repurchase rate to 6.25% on 23 Mar.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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