Analysts expect the Philippine economy to grow 6% to 7% this year.
However, with inflation now at a three-year high, economists warn that the central bank could hike rates at its next meeting on September 11 to keep the economy from overheating. Higher rates would slow the rate of consumption in the months ahead. In comparison, other Asian central banks have been easing their monetary policies to stimulate their economies.
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For more information on the Philippines, visit our Philippines category.
Max Chen contributed to this article.