BSP seen to raise rates in second quarter as inflation surges

The Bangko Sentral ng Pilipinas (BSP) could consider raising rates this quarter as inflation maintains its ascent, an economic research firm said, against the backdrop of faster economic growth.
“With inflation breaching the 4% upper limit of the BSP target, it is now more likely that the Monetary Board will raise its policy rates by 25 basis points in Q2,” analysts at the First Metro Investment Corp. (FMIC) and the University of Asia & the Pacific said in its latest The Market Call report. — Melissa Luz T. Lopez