Your Morning Fix

• Headline inflation in the Philippines accelerated to 2.4% in February. The figure was driven by faster inflation for rentals, electricity, and food products.
• The Philippine government plans to procure at least a million barrels of oil to ensure domestic supply amid ongoing Middle East tensions.
• Oil prices sustained their rise on Thursday as attacks on oil tankers in the Gulf continued, as well as with the closure of the Strait of Hormuz.
• Federal Reserve Bank of Richmond President Tom Barkin said that high inflation and strong employment data may alter the course of the US Fed’s monetary stance.
• China set its economic growth target for 2026 at 4.5%-5%, its lowest in years, as it shifts its growth strategy toward being less export-reliant and more consumption-driven.