BSP governor signals smaller rate hike likely next month

Governor Felipe Medalla says pressure from US monetary policy has declined

Central Bank of the Philippines
The Central Bank of the Philippines
Patrick Roque (

The governor of the Central Bank of the Philippines (BSP) signalled there is likely to be a smaller increase in the policy rate at next month’s policy meeting on February 16.

“The pressure on us to match US increases will be much lower,” Felipe Medalla told reporters on January 10. “The need for us doing large adjustments is no longer there.”

The US Federal Reserve on December 14 raised its benchmark interest rate by 50 basis points to a target range of 4.25% to 4.5%. Fed chairman Jerome

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