BSP has some 'tough decisions' to make: Moody's Analytics

Moody's Analytics sees more headwinds for the Philippine economy, saying the central bank could be forced to hike rates again this year. 

Inflation remains elevated while the peso is under a fair amount of stress, Moody's Analytics Chief APAC Economist Steve Cochrane told ANC.

• Inflation quickens to 5.3 pct in August as rice, fuel costs rise

"Central bank has some tough decisions to make, economy itself is not growing particularly robustly," he said. 

Moody's also sees growth averaging below 6 percent this year -- a downgrade from its initial forecast. 

• ADB downgrades PH economic growth outlook
• Philippine GDP grows 4.3 percent in 2nd quarter of 2023