Inflation aggravated by weak peso but yearend relief coming, says BSP

Some of the price increases that have pushed the country's inflation rate to its highest in nearly a decade can be attributed to a weak peso, which has been on a downtrend since the start of the year, according to Bangko Sentral ng Pilipinas Deputy Gov. Diwa Guinigundo. An interest rate rate hike -- which market watchers expect to be announced after next week's Monetary Board meeting --- may help cap the inflation rate by stabilizing the local currency. "The economy is robust enough to accommodate a rate hike," Guinigundo said on the sidelines of a press briefing by the Duterte administration's economic managers on Tuesday. Any rate hike that may be ordered by monetary authoriti...

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