net_left adver left

Philippines central bank to go for another 50 bps rate hike on Thursday

Tuesday, September 20, 2022
Philippines central bank to go for another 50 bps rate hike on Thursday © Reuters. FILE PHOTO: FILE PHOTO: A logo of Bangko Sentral ng Pilipinas (Central Bank of the Philippines) is seen at their main building in Manila, Philippines March 23, 2016. REUTERS/Romeo Ranoco/File Photo/File Photo

By Shaloo Shrivastava

BENGALURU (Reuters) - The Philippine central bank will likely opt for a half-point interest rate rise on Thursday to support a weakening currency and blunt its effect on imported inflation, a Reuters poll of economists showed.

Down more than 11% for the year, the Philippines peso is one of Asia's worst-performing currencies. Its poor showing against the U.S. dollar, propped up by an aggressive Federal Reserve set to deliver another 75 basis point rise on Wednesday, has led to a record trade deficit and higher inflation.

To shore up the currency and tame inflation the Bangko Sentral ng Pilipinas (BSP) has already raised its policy rate by 175 basis points since May.

Over 60% majority of economists polled, or 13 of 21, expected a 50 basis point rise to 4.25% at its Sept. 22 meeting, compared with half of economists forecasting 4.00% in the previous poll. If realized, that would push the borrowing rate to the highest since August 2019.

Six now expected a quarter point rise to 4.00%, one predicted a jumbo 75 basis point to 4.50%, and a lone voice in the Sept. 13-19 poll expected no move from the BSP.

"The U.S. Fed's aggressive moves at a time when the Philippines' (balance of payments) is under pressure continues to exert pressure on the PHP," noted Debalika Sarkar, economist at ANZ, referring to the peso currency.

"It is therefore conceivable that rate hikes will need to be more aggressive to minimize FX volatility and the passthrough to domestic prices."

Over 75%, or 13 of 17, forecast the interest rate to be at 4.50% or higher by year-end - also the expected peak in this cycle - 50 basis points higher than in the previous poll. Eight said 4.50%, and four said 4.75%. The remaining four said 4.25% or lower.

Despite inflation dipping to 6.3% in August from July's four-year high of 6.4%, analysts said it hasn't peaked yet, leaving scope for further rate hikes. The central bank targets inflation at 2-4%.

"A forceful approach by the BSP to bring forward future rate hikes to the September meeting would not only reduce upside inflation risks but also cement the central bank's credibility and commitment to bring inflation back to its target," noted Han Teng Chua, economist at DBS Bank.

Leave your comment
HOT AUTO TRADE BOT SOFTWARE adver right
APPROVED BROKERS
net_home_top HOT AUTO TRADE BOT SOFTWARE
04-10-2022 13:23:38 (UTC+7)

EUR/USD

0.9859

+0.0036 (+0.36%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (1)

EUR/USD

0.9859

+0.0036 (+0.36%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (1)

GBP/USD

1.1352

+0.0030 (+0.27%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (2)

USD/JPY

144.84

+0.31 (+0.21%)

Summary

Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (4)

Sell (3)

AUD/USD

0.6507

-0.0008 (-0.13%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

USD/CAD

1.3600

-0.0022 (-0.16%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (11)

EUR/JPY

142.80

+0.81 (+0.57%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (1)

EUR/CHF

0.9768

+0.0026 (+0.27%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (1)

Gold Futures

1,711.60

+9.60 (+0.56%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (1)

Sell (5)

Silver Futures

21.027

+0.438 (+2.13%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Copper Futures

3.4655

+0.0467 (+1.37%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (4)

Sell (6)

Crude Oil WTI Futures

83.90

+0.27 (+0.32%)

Summary

↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (0)

Sell (7)

Brent Oil Futures

89.30

+0.44 (+0.50%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (7)

Natural Gas Futures

6.469

-0.033 (-0.51%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (9)

US Coffee C Futures

215.55

-6.00 (-2.71%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Euro Stoxx 50

3,342.17

+23.97 (+0.72%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (7)

S&P 500

3,678.43

+92.81 (+2.59%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (3)

Sell (8)

DAX

12,209.48

+95.12 (+0.79%)

Summary

Neutral

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (2)

Sell (4)

FTSE 100

6,908.76

+14.95 (+0.22%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (2)

Sell (2)

Hang Seng

17,079.51

-143.32 (-0.83%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

US Small Cap 2000

1,709.05

+44.33 (+2.66%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (5)

Sell (2)

IBEX 35

7,462.00

+95.20 (+1.29%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (1)

BASF SE NA O.N.

40.940

+1.340 (+3.38%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (9)

Bayer AG NA

47.95

+0.54 (+1.14%)

Summary

Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (3)

Sell (3)

Allianz SE VNA O.N.

161.54

-0.26 (-0.16%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (0)

Sell (10)

Adidas AG

119.00

+0.12 (+0.10%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (0)

Deutsche Lufthansa AG

5.716

-0.202 (-3.41%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (6)

Siemens AG Class N

100.92

-0.28 (-0.28%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (1)

Sell (7)

Deutsche Bank AG

7.630

-0.016 (-0.21%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (9)

 EUR/USD0.9859↑ Buy
 GBP/USD1.1352↑ Buy
 USD/JPY144.84Buy
 AUD/USD0.6507↑ Buy
 USD/CAD1.3600↑ Sell
 EUR/JPY142.80↑ Buy
 EUR/CHF0.9768↑ Buy
 Gold1,711.60Neutral
 Silver21.027↑ Buy
 Copper3.4655Neutral
 Crude Oil WTI83.90↑ Sell
 Brent Oil89.30↑ Sell
 Natural Gas6.469↑ Sell
 US Coffee C215.55↑ Sell
 Euro Stoxx 503,342.17↑ Sell
 S&P 5003,678.43↑ Sell
 DAX12,209.48Neutral
 FTSE 1006,908.76Neutral
 Hang Seng17,079.51↑ Buy
 Small Cap 20001,709.05Buy
 IBEX 357,462.00↑ Buy
 BASF40.940↑ Sell
 Bayer47.95Sell
 Allianz161.54Neutral
 Adidas119.00↑ Buy
 Lufthansa5.716Sell
 Siemens AG100.92↑ Sell
 Deutsche Bank AG7.630↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,550/ 6,630
(10/ 10) # 1,700
SJC HCM6,540/ 6,640
(20/ 20) # 1,711
SJC Hanoi6,540/ 6,642
(20/ 20) # 1,713
SJC Danang6,540/ 6,642
(20/ 20) # 1,713
SJC Nhatrang6,540/ 6,642
(20/ 20) # 1,713
SJC Cantho6,540/ 6,642
(20/ 20) # 1,713
Cập nhật 04-10-2022 13:23:40
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,703.26+2.30.13%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V22.12022.560
RON 95-III21.44021.860
E5 RON 92-II20.73021.140
DO 0.05S22.20022.640
DO 0,001S-V24.18024.660
Dầu hỏa 2-K21.68022.110
ↂ Giá dầu thô thế giới
WTI$83.94+0.010.01%
Brent$88.86-0.2-0.22%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.720,0024.030,00
EUR22.864,8324.144,42
GBP26.379,6327.503,66
JPY160,63170,05
KRW14,4117,55
Cập nhật lúc 12:23:29 04/10/2022
Xem bảng tỷ giá hối đoái
adver main right