The Philippines' central bank Governor Remolona says inflation will stay within target, ruling out return to tightening cycle but not immediate rate cut.
The Philippines' central bank Governor Eli Remolona stated that the central bank is unlikely to return to a tightening cycle as inflation is expected to fall within the government's target this year. Remolona also mentioned that the central bank could not yet say it would cut interest rates soon, due to upside risks to inflation. Official data shows the headline inflation rate in the Philippines rose from 2.8% in January to 3.4% in February, meeting the government's inflation target of 3.0% +1.0 percentage point.
March 06, 2024
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