The Bangko Sentral ng Pilipinas, whose primary goal is to ensure monetary stability, is cautiously optimistic that the risks to inflation remain broadly balanced for the rest of the year. The recovery in global demand could bring about supply chain bottlenecks and push commodity prices upward. This expectation is tempered, however, by the emergence of new coronavirus variants that “could delay the easing of lockdown measures and temper prospects for domestic growth,” noted the BSP.
While the BSP is focused on reining-in inflation, it would likely maintain its policy rates in order to continue encouraging businesses to rev up, increase output and stimulate renewed economic activity.
Now, the not-so-good news.
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