Philippine cbank ready to use available tools in inflation fight – governor

2022.07.18 11:46

FILE PHOTO: A logo of Bangko Sentral ng Pilipinas (Central Bank of the Philippines) is seen at their main building in Manila, Philippines March 23, 2016. REUTERS/Romeo Ranoco

MANILA (Reuters) – The Philippine central bank is ready to use available tools to bring inflation back within the official 2%-4% target range, its governor said on Monday, after last week’s surprise 75 basis points hike in key interest rates.

Bangko Sentral ng Pilipinas Governor Felipe Medalla also said the domestic economy, aside from red-hot inflation, also faces a risk from possible reimposition of COVID-19 restrictions.

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