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Standard Chartered shifts BSP outlook to a hold on Aug. 27

The firm also cut its 2026 GDP forecast to 3.5% and adjusted CPI expectations, while still looking for potential 2027 rate cuts if inflation drops below 4%.

Reported · Written up by our desk · Central Banks

Standard Chartered now expects the Bangko Sentral ng Pilipinas to keep its policy rate unchanged at its 27 August meeting, after previously projecting a hike, according to an FXStreet note citing the bank’s economists Jonathan Koh and Edward Lee.

The forecast change comes alongside a trim to Standard Chartered’s 2026 GDP growth outlook to 3.5% and lower Consumer Price Index expectations.

Even with a likely pause in August, the firm expects BSP rhetoric to remain hawkish, and it continues to project rate cuts in 2027 if inflation falls below 4%.

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