Mitsubishi UFJ Bank expects the Philippine central bank to raise rates twice more this year to 5.25%.
- Michael Wan, Senior Foreign Exchange Analyst at MUFG, stated in a report that the Central Bank of the Philippines is expected to raise policy rates two more times this year, bringing rates to 5.25% by the end of 2026.
- The bank noted that both the central bank's statement and the governor's tone at the press conference were slightly on the hawkish side; given that inflationary pressures remain strong, the central bank appears prepared to take monetary action to guide the CPI back toward its target level.
- Regarding the exchange rate, MUFG maintains its current baseline forecast, expecting the USD/PHP to trade within the 60.00-61.50 peso range.
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