MANILA (Reuters) – The Philippine central bank may consider pausing monetary tightening next month if inflation does not pick up in April, its governor said on Sunday.
Bangko Sentral ng Pilipinas Governor Felipe Medalla said in a call to Reuters that the rate hike may be paused “if April CPI (consumer price index) is not higher than March CPI”. .
Medalla said “zero or negative MoM inflation” may also support the case for a pause in rate hikes.
Philippine headline inflation fell to 7.6% in March for second straight month from 8.6% in February, but still 2%-4% above central bank Target of
To combat inflation, the BSP raised the benchmark interest rate by basis points to 6 basis points since May last year. 25%. Medalla said future policy moves will depend on the data. Next meeting is May to review policy.
