Institution: The Philippine central bank may raise interest rates twice more this year.

Michael Wan of Mitsubishi UFJ Financial Group stated in a research report that the Philippine central bank may raise its policy interest rate two more times this year, and bring the rate up to 5.25% by the end of 2026. The senior foreign exchange analyst pointed out that the central bank's statement, as well as the remarks of the Philippine central bank governor during a press conference at the time, were slightly hawkish. Wan mentioned that with inflation pressures still strong, the central bank appears ready to take monetary action to guide the consumer price index back to its target level. Mitsubishi UFJ Financial Group currently maintains its existing benchmark forecast that the US dollar will trade in the range of 60.00-61.50 pesos against the Philippine peso.