The central bank in the Philippines is likely to leave interest rates unchanged at its scheduled meeting on Thursday. However, the sharp slowdown in economic growth in the first quarter means the BSP is likely to adopt a dovish tone in the statement, which could pave the way for a rate cut in August.
Meanwhile, inflation and labour market figures published for Taiwan this week support our view that a strong economy will not lead to a rise in inflation, and that the central bank (CBC) is unlikely to follow March’s surprise rate hike with further tightening.
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