ECONOMISTS expect 2010 and 2011 inflation to fall within official target ranges, a poll conducted by the Bangko Sentral ng Pilipinas (BSP) showed.
The September survey of eight economists led to a mean forecast of 4% for 2010, down from 4.5% in the previous quarter. For 2011, the mean forecast was 4.1%, down from 4.8%.
The average outlook for 2012 was 4.5%, lower than the 5.3% in the last quarter.
The BSP’s inflation target ranges for 2010 and 2011 are 3.5-5.5% and 3.0-5.0%, respectively.
The poll of economists from Asia ING, ATR KimEng Financial Corp., Deutsche Bank, HSBC, IDEA, Metropolitan Bank & Trust Co., think tank PEP and Rizal Commercial Banking Corp. was included in the central bank’s third quarter inflation report released on Friday.
Respondents said a fragile economic recovery as well as a strong peso would temper inflationary pressures. The onset of the La Niña weather pattern, however, could lead to higher agricultural prices.
Inflation in September was at 3.5%, slower than the 4% recorded in August.
October results are scheduled to be released this Friday and the central bank has offered a 2.6-3.5% outlook.
Asked how the poll would affect central bank policy rates, BSP Deputy Governor Diwa C. Guinigundo said it showed that inflation expectations were well anchored.
“[There is] no compelling reason to raise interest rates assuming [the] inflation outlook remains unfavorable and growth is respectably robust,” he said in a text message. –Businessworld
June 2025
Philippine Environment Month!
“Action for Nature, for the Future!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos
Monthly Observances:
1 Jun – World Day of Parents
5 Jun – World Environment Day
7 Jun – World Food Safety Day
8 Jun – World Oceans Day
12 Jun – World Day Against
Child Labour
15 Jun – World Elder Abuse Awareness Day
16 Jun – International Day of Family Remittances
17 Jun – World Day to Combat Desertification and Drought
20 Jun – World Refugee Day
25 Jun – Day of the Seafarer
27 Jun – Micro-, Small and Medium-sized Enterprises Day
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
