Philippines' persisting weather risks to impact inflation?

While near-term inflationary pressures look manageable, drier-than-normal weather conditions could affect agriculture production, which may risk stoking inflation.

There are already signs that rice planting in the Philippines has been affected by weather, which could trigger higher imports. As such, it is unlikely that BSP will join other central banks in easing monetary policy. 

"The next policy move might be a hike, most likely in Q4 15, after the Fed has begun its expected tightening. Risks to rate hike view are biased towards the move being pushed out", says Barclays.