Philippines: Inflation likely to bounce to 1.3% in November – ING


Nicholas Mapa, senior economist at ING, suggests that after falling to 0.8% in October, they are expecting Philippine inflation to bounce to 1.3% as base effects from last year’s spike fade quickly out. 

Key Quotes

“We expect inflation to revert back to the midpoint of the BSP’s 2-4% inflation target next year and to average 3.2% in 2020.  Inflation for the most heavily weighted sub-group (food and beverages are 38% of the basket) will also stay subdued due to imports and better weather conditions.  Meanwhile, with global growth forecast to sputter next year, we expect subdued commodity prices to limit both energy and transport costs for the Philippines.”

“Bangko Sentral ng Pilipinas (BSP) Governor Diokno kept the door open for a rate cut at the 12 December meeting, indicating that he will take his cue from inflation data to decide if further action is appropriate.  Given that we predict inflation to rebound to 1.3% from 0.8%, BSP will likely pause at its last meeting of the year.”

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. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Editors’ Picks

GBP/USD off 7-month highs, still firmer as Tories hold the lead

GBP/USD retraces from the new seven-month highs of 1.3180 but remains strongly bid, as weekend polls have reaffirmed a solid lead for PM Johnson's Conservatives. Cable dropped on Friday amid upbeat US data.

GBP/USD News

EUR/USD steadying above 1.1050 amid upbeat German export data

EUR/USD is trading above 1.1050, attempting a recovery after Germany reported an increase in exports in October. EUR/UDS dropped sharply on Friday amid upbeat US Non-Farm Payrolls and weak German industrial output. 

EUR/USD News

Forex Today: US-Sino trade tensions prevail, Boris closer to victory, EUR/USD licking its wounds

Trade talks: President Donald Trump has called on the World Bank to stop lending to China, a move that may aggravate tensions, with only six days to go until Washington is set to slap new tariffs on Beijing. Negotiations continue.

Read more

Gold: Sidelined after biggest daily decline in four weeks

Gold is lacking a clear directional bias in Asia, having registered its biggest single-day decline in four weeks on Friday. China's data may embolden President Trump to take more aggressive measures. 

Gold News

USD/JPY in search of a firm direction, stuck in a range above mid-108.00s

USD/JPY was seen oscillating in a narrow band and consolidated last week’s losses. US-China trade uncertainties continued underpinning the JPY’s safe-haven status. Investors now seemed reluctant ahead of the latest FOMC monetary policy update.

USD/JPY News

Forex MAJORS

Cryptocurrencies

Signatures