THE MARKET CALL (APRIL 2019)
Here are the highlights of the April issue:
Macroeconomy
Elevated NG spending on infrastructure projects, coupled with the spill-over effects of the election should keep growth momentum in Q1 steady. Moreover, the downtrend in inflation print augurs well for higher consumer spending and leads us to expect cuts in reserve ratio requirement (RRR) in Q2. The peso’s recent gains should prove temporary given the huge trade imbalance and the need to beef up GIR to counter possible external shocks.