“The BSP will continue to adjust its monetary policy stance as necessary to prevent the further broadening of price pressures as well as the emergence of additional second-order effects,” it said in an emailed statement.“The BSP also continues to call for the timely and effective implementation of non-monetary government measures to mitigate the impact of persistent supply-side pressures on inflation,” it added.
The Bangko Sentral ng Pilipinas on Wednesday said it is still prepared to continue adjusting the key policy rates as necessary, as headline inflation slowed in March, but core inflation climbed to the highest in over two decades.
“The BSP will continue to adjust its monetary policy stance as necessary to prevent the further broadening of price pressures as well as the emergence of additional second-order effects,” it said in an emailed statement. The Monetary Board of the BSP has already hiked key policy rates by 425 basis points since May 2022, with the latest being aThe Philippine Statistics Authority earlier on Wednesday reported headline inflation at, slower than the 8.6% recorded in February. Core inflation which excludes select food and energy items, however, climbed to 8.0% or the highest since March 1999’s 8.1%.
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