Central Banks
Philippine Central Bank Chief Sees Rate Peaking This Quarter
- Governor says excessive peso appreciation is bad for economy
- 200 basis points RRR cut on the table in first half: Medalla
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The Philippine central bank will likely end its monetary tightening with one or two more rate increases this quarter that will bring the key rate to around 6%, according to its governor.
“The most likely scenario is that the last increase is the March meeting,” Bangko Sentral ng Pilipinas Governor Felipe Medalla said in an interview in his office Friday. Asked what he thinks of analysts predicting BSP’s peak rate at 6% from the current 5.5%, he said: “I think they’re most likely right.”