Forex News: Philippine central bank expected to raise key rates by 25 bps to curb surging inflation without stifling economic growth, according to 9 of 10 economists polled by Dow Jones; one forecasts a 50bp hike. "Economic growth is already very slow, and I think the BSP would be loathe to further throttle growth," says JPMorgan economist Sing Beng Ong. Annual inflation surged to 14-year high 11.4% in June on record-high oil, rice prices; 1Q GDP growth skidded to near 2-year low, 5.2% on year on high oil cost, sluggish global demand. BSP's overnight rates at 5.25% for borrowing, 7.25% for lending, last raised by 25 bps in June.
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