Philippine central bank wants inflation firmly settled near target midpoint, governor says
Add BT as a preferred source
THE Philippine central bank wants inflation firmly settled near the middle of its 2.0 to 4.0 per cent target range, its governor said on Tuesday.
“We are hawkish, but less than before,” Governor Eli Remolona told the Reuters Global Markets Forum.
Remolona said the central bank is happy where inflation is going, adding policymakers were more concerned about inflation than growth.
Annual inflation quickened for a fourth straight month in May to 3.9 per cent from 3.8 per cent the previous month, bringing the five-month average to 3.5 per cent.
The central bank, which kept its benchmark rate steady at its last five meetings, will meet on June 27 to review policy. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
CSE Global independent director quits after clashes with chairman Eugene Lai over board refresh
Cat A COE rate exceeds Cat B for third time in 4 months; premiums largely down
‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse
Manulife pulls loan product for rich Hong Kong clients after scrutiny
