Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Philippine central bank may consider pausing rate rises if inflation slows

Published 04/09/2023, 12:23 AM
Updated 04/09/2023, 12:25 AM
© Reuters. FILE PHOTO: A logo of Bangko Sentral ng Pilipinas (Central Bank of the Philippines) is seen at their main building in Manila, Philippines March 23, 2016. REUTERS/Romeo Ranoco/File Photo

MANILA (Reuters) - The Philippine central bank may consider pausing its monetary tightening next month if April inflation does not accelerate, the bank's governor said on Sunday.

Bangko Sentral ng Pilipinas Governor Felipe Medalla said in a telephone message to Reuters that a pause in interest rate increases was possible "if the April CPI (consumer price index) is not higher than the March CPI".

Medalla said a "zero or negative month-on-month inflation" may also support the case for a rate hike pause.

Philippine headline inflation eased for a second consecutive month in March to 7.6% from 8.6% in February but it remained above the central bank's 2%-4% target for the year.

To tackle inflation, the BSP has raised its benchmark interest rate by 425 basis points since May last year to 6.25%. Medalla has said future policy moves would be data-dependent. It next meets on May 18 to review policy.

Latest comments

vassalmanila,justpegurpesotoyour master'sdollar and takeorders fromur colonial.overlords
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.