BSP stays cautious, sees policy tightening only if inflation broadens

MANILA, Philippines – Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. said the central bank was adopting a wait-and-see stance amid the global energy shock, stressing that it would tighten policy only if supply-driven price pressures begin to feed into demand. In an interview with CNBC, Remolona said the Monetary Board chose to “err on the side of caution” when it kept the benchmark rate at 4.25 percent during an off-cycle meeting last month. READ: sp-downgrades-ph-outlook-to-stable He said raising rates at that time would have done little to curb supply-side inflation stemming from the war in the Middle East, […]... Keep on reading: BSP stays cautious, sees policy tightening only if inflation broadens

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