Philippine Central Bank Chief Maintains Openness to Rate Tightening

Philippine central bank Governor Eli Remolona signaled further monetary policy tightening is still on the table for the economy, and said it’s “premature” to talk about cutting the key interest rate.

Bangko Sentral ng Pilipinas remains “more on the tightening side” as it monitors upside risks to inflation such as higher wages, the impact of El Nino to food supply and any sharp drop in the peso that could stoke imported prices, Remolona said in an interview last week.

He was in Canada for a Philippine economic briefing.

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