{
  "id": 19598550,
  "title": "Philippines faces difficult mix of high inflation, sluggish growth — BSP",
  "url": "https://urgent.news/2026/11/12/philippines-faces-difficult-mix-of-high-inflation-sluggish-growth-bsp",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-12T03:07:00.000Z",
  "source": {
    "name": "Philippine Star Business",
    "slug": "philippine-star-business",
    "url": "https://www.philstar.com/business/2026/11/12/2569657/philippines-faces-difficult-mix-high-inflation-sluggish-growth-bsp"
  },
  "original_language": "en",
  "account": "The Bangko Sentral ng Pilipinas (BSP) is grappling with a challenging economic situation in the Philippines, marked by high inflation and sluggish growth. On November 12, the central bank highlighted the impact of global supply shocks as a \"second-round effect\" and expressed concern over the risk of diminishing public trust. The BSP also considered weak aggregate demand in its efforts to curb inflation. Restoring price stability and purchasing power is seen as vital for regaining public confidence in the central bank and the economy. To achieve its target of 3% inflation by 2028, the BSP has already raised its benchmark interest rate by 125 basis points in 2026 alone, with a significant 50-basis-point hike in October. Inflation reached a three-year peak of 7.8% in October, primarily due to surging energy and transport costs. Meanwhile, economic growth slowed to 2.1% in the third quarter of 2026. The BSP is set to hold its final Monetary Board meeting on December 17 and will release its final monetary policy report on December 23.",
  "summary": "The Bangko Sentral ng Pilipinas is focusing on the “second-round effects” of global supply shocks and the risk of eroding public trust as the country faces “a difficult combination” of rising inflation and sluggish growth.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}