The Philippines central bank just signaled it's keeping rates steady for the foreseeable future. Why? Inflation's starting to creep back up, making any near-term rate cuts a non-starter.

Here's what this means for the broader market: when central banks pump the brakes on easing, it typically means tighter liquidity conditions ahead. That ripples through risk assets including crypto. Higher rates usually correlate with reduced appetite for volatile, speculative plays—though the overall macro picture remains nuanced given global monetary divergence.

The inflation uptick is worth watching too. If price pressures intensify across emerging markets, we could see capital rotations toward safer havens, which historically pressures alternative assets. Traders should keep tabs on how other regional banks respond. This kind of policy stance from major emerging economies often signals broader trends in the global financial system.