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MANILA, Philippines – The Philippines is among the Asian economies most exposed to the combined risks of a potential “super” El Niño, high US interest rates and domestic policy uncertainty, according to MUFG.
In a note to clients, the bank flagged three factors it said would need close monitoring and could increasingly drive divergence in Asian asset prices.
READ: PH economy to underperform until 2028 – DLSU economists
The first is the risk of a super El Niño and its potential interaction with earlier spikes in energy prices, which could feed through into higher food costs and inflation.
