Remate Express

economy

ING: PH rate hike ‘matter of timing’

MANILA -An increase in the country’s policy rate to 6.5 percent may come as early as two weeks ahead of the Monetary Board’s (MB) next meeting on Nov. 16 considering the central bank’s constant “hikish” signals, according to ING Bank. Read more: https://business.inquirer.net/426082/ing-ph-rate-hike-matter-of-timing#ixzz8FyTQjWIT Follow us: @inquirerdotnet on Twitter | inquirerdotnet on Facebook

Nicholas Mapa, senior economist at The Netherlands-based group, said in a commentary that a 25-basis-point or 0.25 percentage point (ppt) increase to 6.5 percent seems to be set and is “only a matter of timing.” Mapa observed that additional tightening of the Bangko Sentral ng Pilipinas (BSP) monetary policy would serve to tame the outlook on inflation—which revved up again in August and September—for next year.