CPI to Fall, and Core to Fall to 5.8% on the Year in February.

We expect CPI to fall. We think it's going to fall to 9.8% the headline rate. And we think core will also fall gradually from 5.8% to 5.7%. It's not falling as dramatically as we've seen in other places, like the Euro area. A part of that is because we're not yet seeing the price of lower wholesale prices onto the retail level. Because we have this energy price guarantee, which is due to be kept at 2500 for the foreseeable future. So let's talk about the situation in the Philippines with the BSP. We expect the BSP to raise its policy rate by 25 basis points to 6.25%. With headline inflation