MANILA: An analyst on Tuesday said he is expects inflation to be manageable for the full year amid an uptick in global oil prices.
Speaking to ANC’s Market Edge, Security Bank economist Angelo Taningco said while crude prices are slowly inching up, they remain below the $50-per-barrel cap. “We think oil price uptick will not be that sharp. We maintain our inflation forecast this year which is at 3.0%, which is the midpoint of the inflation target range of the government,” he said. Taningco believes there is no need for the central bank to alter its monetary policy stance as it is set to announce its rate hike after the upcoming Federal Reserve meeting.