Bangko Sentral ng Pilipinas Governor Eli Remolona said upside risks to inflation persist, in comments that indicate the monetary authority is open to further tightening.
Core inflation is still high and there are still upside pressures, he said at a banking event in Manila on Friday. The core measure – which strips out volatile food and fuel costs – came in at 7.4 per cent in June, down from 7.7 per cent in May and 7.9 per cent in April.
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