SARB, led by Governor Kganyago, tightened monetary policy in response to rising energy costs driven by the Iran war.
3 reports, 3 independent
Updated May 28
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What happened
SARB, led by Governor Kganyago, tightened monetary policy in response to rising energy costs driven by the Iran war.
Who's involved
What this event is mainly aboutHow it developed
Newest first. Tap a step to see who reported it.SARB cited El Niño drought alongside Middle East conflict as drivers for rate hike.1 source
SARB tightens policy amid global energy cost pressures from the Iran war.1 source
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The entities involved
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Philippines
archipelagic country in Southeast Asia
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Lesetja Kganyago
South African banker
Related events
- Middle East conflict led to higher energy prices, prompting the Makati Business Club to provide economic commentary on Philippine growth.
- An energy supply shock occurred due to the ongoing US-Iran conflict in the Middle East.
- Energy risks for Southeast Asia are exposed due to the Iran war, causing demand shocks observed by a solar company in Manila, amidst the IEA's assessments.
- The ADB is closely monitoring the Philippine economy as it lags regional averages amid global oil price shocks driven by war.
- Geopolitical tensions are driving up shipping costs, prompting coordination with the DoE on energy price adjustments in the Philippines.