The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) is poised to raise interest rates if inflationary pressures continue to rise, stated Governor Eli Remolona. The central bank is prioritizing its inflation target of 2-4%, aiming to guide inflation back to a stable range.
Remolona noted that while the economic slowdown has eased the pressure to hike rates, the bank remains prepared to take action to control inflation. He emphasized that monetary policy flexibility will be applied to ensure that inflation remains within the target range.
The central bank will carefully evaluate inflation data to inform any decision on interest rates, ensuring that the economy is adequately supported.