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Espenilla turns more hawkish than ever ahead of August meeting

A rate hike is definitely on the table — the only question is by how much.

A rate hike is definitely on the table — the only question is by how much.

Bangko Sentral ng Pilipinas (BSP) Governor Nestor Espenilla, Jr. seems to know how to shut down critics who have been calling him out for a signalling problem in terms of monetary policy. On Friday, July 20, Espenilla went to drop his most hawkish statement in his two years as BSP chief.

Espenilla said the BSP is now “considering strong follow-through monetary adjustment” at its upcoming Monetary Board meeting on Aug. 9.

The bets will now focus on by how much will the central bank raise rates, following two 25 basis point increases during the first semester.

Stay tuned!

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