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Economy
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Monthly Recap: Within-target inflation
Just before the Middle East ruckus, inflation forecasts were largely on track
March 10, 2026
By Metrobank Research
By Metrobank Research
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Here are the key economic events in February 2026 and what to look out for.
Key points
- 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%.
What now?
- 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
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