BSP governor says Fed should be ‘more caring’

But Felipe Medalla says Philippines accepts reality of having to react to US monetary policy

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

Philippine central bank governor Felipe Medalla said he wished the US Federal Reserve would be “more caring” about international conditions when it raises interest rates.

Medalla made the comment at a talk held by the International Monetary Fund and the World Bank on April 11. He said the Central Bank of the Philippines (BSP) has used a mix of policy tools to fight inflation and protect the peso from shocks, including raising its policy rate by 425 basis points since May 2022.

The governor

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