The Market Call (October 2018)
Here are the highlights of the October issue:
Macroeconomy
We maintain our view that GDP expansion in Q3 will exceed the 6% mark recorded in Q2 amidst exceptional strength of private and public investment spending, coupled with modestly rebounding exports. We think that BSP would raise policy rates by a maximum of 25 bps before the end of 2018, despite falling rice, food and oil prices, since bus and jeepney fares are supposed to rise by November.