The Philippine central bank remains prepared to tighten monetary policy if necessary due to persisting inflation challenges. Deputy Governor Francisco Dakila of Bangko Sentral ng Pilipinas (BSP) asserted the policymakers’ determination to steer inflation back to the central bank’s targeted range of 2 percent to 4 percent this year. In the stock market, the Philippine Stock Exchange index (PSEi) rose by 0.45% following President Marcos’ statements on inflation and agriculture during the State of the Nation Address (Sona). Investors were also anticipating the US Federal Reserve’s potential interest rate hike. However, concerns arose among market observers regarding the lack of specific implementation details in the Sona, along with external risks like el nino and the conflict in Russia and Ukraine, leading to limited market boost. On the financial front, average rates on Treasury bills decreased across the board, as the national government successfully raised P15 billion as planned. The 91-day T-bill rate declined by 27.3 basis points to 5.6 percent, primarily attributed to the downward correction in comparable short-term Philippine BVAL yields, as highlighted by the chief economist of Rizal Commercial Banking Corp.