Philippine Central Bank Chief Rules Out Rate Pause for Now
- Medalla sees little scope for a pause in next two meetings
- As Asia replenishes dollar pile, BSP buys or sells greenbacks
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The Philippine central bank isn’t likely to pause interest-rate increases at least in the next two meetings as inflation remains far above target, Governor Felipe Medalla said.
“Inflation expectations are higher than our own forecast,” he said in an interview with Bloomberg Television’s David Ingles on Friday, a day after delivering a half-point interest-rate increase. That lifted borrowing costs to 5.5%, the highest since December 2008.