{"id":65955,"date":"2026-03-27T09:04:43","date_gmt":"2026-03-27T02:04:43","guid":{"rendered":"https:\/\/hbbgroup.net\/php-energy-shock-risks-and-bsp-stance-dbs\/"},"modified":"2026-03-27T09:04:43","modified_gmt":"2026-03-27T02:04:43","slug":"php-energy-shock-risks-and-bsp-stance-dbs","status":"publish","type":"post","link":"https:\/\/hbbgroup.net\/vi\/php-energy-shock-risks-and-bsp-stance-dbs\/","title":{"rendered":"PHP: Energy shock risks and BSP stance \u2013 DBS"},"content":{"rendered":"<div id=\"post-content-section\">\n<p>DBS Group Research economist Radhika Rao discusses how the Philippines\u2019 declaration of a national energy emergency in response to Middle East supply risks could affect inflation, growth and the Philippines Peso (PHP). She notes pressure on onshore markets, record Peso weakness and underperforming <a href=\"https:\/\/www.fxstreet.com\/markets\/equities\" data-fxs-autoanchor>equities<\/a>, and expects the central bank of the Philippines, Bangko Sentral ng Pilipinas (BSP) to maintain an extended pause, removing a previously projected rate cut from DBS\u2019s baseline forecast.<\/p>\n<h2>Energy emergency weighs on Peso outlook<\/h2>\n<p>&#8220;Before the Middle east conflict, official growth forecasts had already been cut to 4.6% for 2026 and 5.9% in 2027 (vs 5.4% and 6.3% earlier), as graft-related investigations and slower public disbursements had dampened the <a href=\"https:\/\/www.fxstreet.com\/rates-charts\/forecast\" data-fxs-autoanchor>outlook<\/a> despite the 225bp cuts in benchmark <a href=\"https:\/\/www.fxstreet.com\/rates-charts\/rates\" data-fxs-autoanchor>rates<\/a>.&#8221;<\/p>\n<p>&#8220;Philippines declared a national energy emergency on Wednesday to counter risks posed by Middle east conflict and consequent disruption to supplies.&#8221;<\/p>\n<p>&#8220;Onshore financial markets have already been under pressure this month, with the peso (depreciated to a record low) and equity markets amongst the regional underperformers on month-to-date basis.&#8221;<\/p>\n<p>&#8220;The BSP will be wary of lowering rates further in this environment, preferring to stay on an extended pause.&#8221;<\/p>\n<p>&#8220;We remove the last rate cut in our baseline forecast.&#8221;<\/p>\n<p><em>(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)<\/em><\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>DBS Group Research economist Radhika Rao discusses how the Philippines\u2019 declaration of a national energy emergency in response to Middle [&hellip;]<\/p>","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-65955","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"_links":{"self":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts\/65955","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/comments?post=65955"}],"version-history":[{"count":0,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts\/65955\/revisions"}],"wp:attachment":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/media?parent=65955"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/categories?post=65955"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/tags?post=65955"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}