Philippines: BSP predicted to remain on hold this week – UOB

The Bangko Sentral ng Pilipinas (BSP) is seen keeping the policy rate on old at 2.00% later in the week, noted Lee Sue Ann, Economist at UOB Group.

Key Quotes

“An acceleration in the national vaccination program is the key to sustain the economic recovery in the near term, in addition to ongoing implementation of targeted fiscal stimulus measures and steady monetary policy support.”

“Therefore, we believe that BSP will continue to press the pause button on rates for the rest of the year.”