Philippines governor says off-cycle rate hike possible
Remolona says BSP may have fallen behind the curve on inflation
The Central Bank of the Philippines (BSP) may implement an off-cycle interest rate hike, its governor has said, to combat soaring inflation in the country since the outbreak of the conflict in the Middle East.
Eli Remolona said in a TV interview today (May 22) that the current inflation problem was a difficult one to solve. He said central banks would ordinarily look through supply shocks, as they are often temporary, but the Philippines was experiencing a large and persistent supply shock that
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