The Bangko Sentral ng Pilipinas could hike interest rates earlier than expected in 2022 in a bid to normalize monetary policy, Fitch Solutions said.
The Fitch Group unit also flagged policy normalization could begin in the second quarter of next year, ahead of its initial late 2022 forecast. "Our expectation for a more hawkish stance from the BSP comes as external monetary policy conditions continue to put pressure on the more dovish emerging market central banks," said Fitch Solutions, noting over half of the Federal Open Market Committee projected a rate hike for the United States next year.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: