Here are the key economic events in February 2026 and what to look out for.

• Philippine headline inflation accelerated to 2.4% in February, bringing year-to-date inflation to 2.2%, still within the Bangko Sentral ng Pilipinas (BSP)’s target band.
• The BSP also delivered a 25-basis-point rate cut to its target Reverse Repurchase (RRP) rate in February to stimulate growth. This brought the target RRP rate to 4.25%.

• Geopolitical tensions in the Middle East have disrupted oil supply chains globally. This development has broadly shifted the outlook for the global economy, with faster inflation at the forefront.
• Metrobank has revised its inflation, GDP, and USD/PHP exchange rate forecasts for 2026 accordingly as rapidly rising inflation will likely weigh on consumption and the peso.
• Meanwhile, we also revise our forecast for the BSP’s policy rate to reflect more hawkish moves by the BSP going forward to combat inflation. We forecast the target RRP rate to settle higher at 4.75% by end-2026.