UBS Morning Adviser

Balancing inflation and growth in a challenging environment
Last week Bangko Sentral ng Pilipinas (BSP) decided to hold rates, in spite of loose liquidity and rising inflation of 4.1%. Although the overall decision was dovish, BSP also announced a reserve ratio requirement increase, illustrating its efforts at finetuning the delicate balance between excess liquidity and the fragile domestic economy.

Read the full report: UBS