Philippines Central Bank Warns Oil at $100 May Trigger Rate Hike

Eli RemolonaPhotographer: Lam Yik/Bloomberg

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By Ditas B Lopez and Neil Jerome Morales

March 6, 2026 at 3:35 AM UTC

Updated on

March 6, 2026 at 5:28 AM UTC

Bangko Sentral ng Pilipinas Governor Eli Remolona Jr. said oil reaching $100 per barrel could force monetary policy tightening as inflation could breach the central bank’s target range.

The Philippine central bank, which just cut its policy rate in February, now faces new risks from rising oil prices and a strengthening dollar. Remolona said that while the 10% increase in oil prices since the start of the Middle East conflict remains “manageable,” a 50% surge would require stronger intervention.