Rate hike forecast bucks consensus

A policy rate adjustment will likely be announced today with monetary authorities finally deciding to address rising inflation, Japan’s Nomura said.

“We continue to expect a 25bp policy rate hike on 22 March, against consensus expectations of no change, which are based on seemingly dovish central bank comments in recent weeks despite rising inflation,” it said in a comment released Wednesday — a day before the Bangko Sentral ng Pilipinas (BSP)’ policy-making Monetary Board meets for the second time this year.