<p class="p1"><span data-teams="true"><strong>GLOBAL: US Federal Reserve (Fed) officials are signaling that another rate hike is on the table before the year ends, though the exact timing is uncertain, according to the Fed’s latest minutes.&nbsp;</strong></span></p>

<ul class="ul1"><li class="li1" data-list-item-id="e7f9ca49dde5b3329d048bf3e7ef03f90"><span data-teams="true"><strong>Market impact:&nbsp;US equities retreated amid renewed inflation concerns.</strong> Rising Treasury yields, driven by AI growth and soaring debt, bolstered the US dollar.</span></li></ul>

<ul><li data-list-item-id="e1f939292c33d307a370e4e33aa39e1f8"><p class="p1"><span data-teams="true"><strong>Metrobank anticipates a 25-basis-point Fed rate hike through yearend to curb inflation</strong>, underpinned by robust domestic consumption and investments.</span></p></li></ul>

<p class="p1"><span data-teams="true"><strong>LOCAL: The Department of Energy warned that a super El Niño and a spike in consumer demand may lead to a surge in electricity rates and rolling power outages.&nbsp;</strong></span></p>

<p class="p1"><span data-teams="true"><strong>Market impact:&nbsp;The PSEi rebounded on bargain hunting,</strong> while the USD/PHP dipped as a softer US dollar reacted to Fed rate pause expectations.</span></p>

<p><span data-teams="true"><strong>Metrobank projects persistent inflationary pressures heading into 2027,</strong> driven by the impact of the super El Niño along with minimum wage and transport fare adjustments.</span></p>