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There is still an upward bias in our forecast for the country’s policy rates as inflation risks remain elevated.
With the uptick in inflation in August, we have revised our inflation forecasts for 2023.
Here is our list as of September 12, 2023.
Given the potential for a higher for longer rates environment, we continue to remain tactical on 5 to 20-year peso government securities as yields may fall much later than originally anticipated.
Four commodity groups recorded lower year-on-year inflation, five (5) posted faster inflation, and four recorded stable inflation.
We have revised our GDP growth and inflation forecasts lower for 2023 on account of the latest economic data.
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