By Katherine K. Chan, Reporter
LONG-TERM INFLATION expectations remain anchored despite persistent price pressures driven by oil shocks stemming from the Middle East war, a study by the Bangko Sentral ng Pilipinas (BSP) Research Academy showed.
According to a discussion paper penned by BSP researchers, long-run inflation expectations are “relatively stable,” hovering between 3.5% and 4.5% or around the upper bound of the central bank’s target.
“Although long-run expectations fell at the start of the sample, they have consistently stayed near the upper end of the BSP’s current inflation target of 2%-4%,” BSP researchers Joan Christine S. Allon-Pineda, Carl Francis F. Maliwat and Cymon Kayle Lubangco said in the report.
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