It may be too soon for the Philippine central bank to pause from raising interest rates at its next policy meeting in May, Governor Felipe Medalla said, signaling its most aggressive tightening cycle in two decades could continue.
May is “too early” to pause, “unless we actually see a price fall,” Medalla said in an interview Thursday on the sidelines of the Association of Southeast Asian Nations forum in Bali, Indonesia.
The Bangko Sentral ng Pilipinas remains “cautious” and needs to see “enough low month-on-month inflation, to give the public confidence that the BSP forecast of inflation averaging 2.9% is quite likely,” he said, referring to its 2024 estimate.
Source : Philippines’ Central Bank Chief: Rate Hike Pause Too Early to Consider