Philippine central bank says it intends to keep rates low in 'next few quarters'

[MANILA] The Philippine central bank intends to keep interest rates low "for the next few quarters", Governor Benjamin Diokno said on Tuesday, downplaying the impact of a stronger-than-expected inflation number in December.

Headline annual inflation in December picked up to 3.5 per cent, driven by the heavily-weighted food and non-alcoholic beverages sector to hit the highest level since February 2019.

Mr Diokno in an interview with ANC Channel described the pickup in December inflation as "transitory" and said the level was "the least of our worries".

REUTERS