The latest growth pace matched market estimates, but settled near the low-end of the government’s 7-8 percent target range for 2018. SpoilerIn a press conference, Socioeconomic Planning Secretary Ernesto Pernia said accelerating inflation, which weakened consumer confidence, is the “spoiler” of the country’s growth. “If not for the first quarter 2017 to first quarter to 2018 rate of increase in inflation, real GDP growth could have been well within our growth range target,” Pernia said. Solid economic growth is also expected to add pressure on the central bank to tweak policy rates to tame inflation. The central bank will review its monetary policy stance on Thursday afternoon, with markets already pricing in a rate hike.

Source: Philippine Star May 10, 2018 03:33 UTC