PHILIPPINE C.BANK raised its benchmark rate 25bps to 4.75% in a second
consecutive hike, matching 23 of 30 economists in a survey (seven had expected
50bps). The move follows a temporary US–Iran peace deal to reopen the Strait of
Hormuz, but Asian central banks remain on a tightening path: BANK OF JAPAN
raised its policy rate Tuesday and signaled further hikes, and markets expect
Bank Indonesia to follow on Thursday. The Philippines is almost entirely
dependent on Middle East oil imports and is among the most exposed; inflation
eased to 6.8% last month but stays above the 2%–4% target band. The government
warned domestic fuel prices may take up to a year to return to pre‑conflict
levels.
