The statistics agency sees a “substantial probability” that inflation could increase further in November, partly because of the impact of a recent destructive tropical storm.
October core inflation at 5.9% vs September’s 5.0%BSP to hike interest rates by 75 bps at Nov. 17 meetingThe Philippine central bank said on Friday it was ready to take all further monetary policy actions needed to bring inflation back within target, after data showed the headline rate accelerating to its fastest pace in nearly 14 years in October.
Inflation in January-October averaged 5.4%, well outside the central bank’s full-year target range of 2% to 4%. “The risks to the inflation outlook appear to be tilted to the upside for 2022 and 2023 but are seen to be broadly balanced for 2024,” the Bangko Sentral ng Pilipinas said in a statement.to 4.25%, said it remained “prepared to take all further monetary policy actions necessary to bring inflation back to the target over the medium term”.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BSP open to matching more Fed hikes to tame inflation - BusinessWorld OnlineThe Philippines central bank may keep on matching the Federal Reserve’s next rate increases should domestic inflation continue to quicken, according to Governor Felipe M. Medalla. “If the inflation rate remains high, then we have to match” the Fed, Mr. Medalla said in an interview with Bloomberg Television’s David Ingles and Yvonne Man Friday. “If […]
Read more »
BSP readies big interest rate hike this monthThe Bangko Sentral ng Pilipinas prepares for a big interest rate hike in the next policy meeting of the Monetary Board this month after the US Federal Reserve raised its own rate by 75 basis points on Wednesday to rein in inflation in the world’s largest-
Read more »
BSP to match Fed's 75 bps rate hike on November 17“The BSP deems it necessary to maintain the interest rate differential prevailing before the most recent Fed rate hike, in line with its price stability mandate…”
Read more »
BSP says to ‘match’ US Fed’s interest rate hike in Nov. 17Bangko Sentral ng Pilipinas Governor Felipe Medalla on Thursday said the monetary board plans to increase the country’s key policy rate by 75 basis points to match the recent announcement made by t…
Read more »
BSP drafts rules on intraday liquidity facilityThe Bangko Sentral ng Pilipinas (BSP) is set to approve an intraday liquidity facility (ILF) for eligible participants of the peso-denominated real time gross settlement (RTGS) payment system to ensure financial stability and the management of risks.
Read more »