BSP Governor Benjamin E. Diokno said yesterday they have adjusted the inflation numbers lower and this has already factored in the bombing of Saudi Arabia’s oil facilities.
Diokno said they did not change the assumptions for Dubai crude oil prices and exchange rate in deciding the latest annual inflation forecast. The BSP expects the lower end of the six to seven percent GDP growth forecasts set by the inter-agency Development Budget and Coordinating Committee. As of August 8 the BSP has an oil price assumption of $63.88 per barrel for 2019 which was lower than the previous $64.56 per barrel assumption.
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