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
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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