Bangko Sentral ng Pilipinas likely to stand pat

There is a pick up in Philippines inflation in the month of November, the central bank BSP seems comfortable with its policy rates, emphasizing that the risks to growth and inflation stem largely from poor weather and uncertainty in global backdrop.

"Bangko Sentral has been on the sidelines throughout 2015 and we believe it is likely to leave rates unchanged on 17 December", says Barclays in a research note. 

Guinigundo, the Deputy BSP Governor stated in an off-late press conference that BSP sees the rates at an appropriate levels and also that the central bank moved in a pre-emptive fashion to make itself ready for potential rate hikes in US.

Currently USD/PHP is trading at 47.27.