Peso may hit 62 level as Middle East conflict fans inflation—MUFG

The Philippine peso is at risk of exceeding 62 dollars against the US dollar due to the escalation of the Middle East conflict, driven by high dependence on crude oil imports and a vulnerable economy. MUFG forecasts inflation pressures and potential interest rate hikes, anticipating slower economic growth. A severe scenario could see inflation rise to 10%, potentially triggering a recession.