With Feb inflation print, BSP seen likely to go for 25 bps interest rate hike

MANILA, Philippines -The 8.6-percent inflation in February, which was slower than was widely expected, increases the likelihood that the Bangko Sentral ng Pilipinas will go for a 0.25-percentage point increase of its policy rate to 6.25 percent on March 23, according to Goldman Sachs. Still, the New York-based financial services firm said it was sticking to its forecast of a 0.5-ppt hike to 6.5 percent. Goldman Sachs forecast the February readout at 8.8 percent year-on-year, which was to have been slightly faster than the 8.7 percent recorded in January. The BSP itself was looking at 8.9 percent, forecasting a range of 8.5 percent to 9.3 percent. "While [the February] inflati...Keep on reading: With Feb inflation print, BSP seen likely to go for 25 bps interest rate hike

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