Bangko Sentral ng Pilipinas Governor Felipe M. Medalla said on Monday the country’s inflation rate is “falling rapidly” such that it can be below 4 percent by September, October or November. Know more:
MACTAN, Cebu—Bangko Sentral ng Pilipinas Governor Felipe M. Medalla said on Monday the country’s inflation rate is “falling rapidly” such that it can be below 4 percent by September, October or November.
According to a Bloomberg report, Medalla said a pause is the “most likely result” at the BSP’s May 18 meeting, as Finance Secretary Benjamin Diokno, who sits on the seven-member monetary policy board, said that he will vote for a pause in the benchmark interest rate in this week’s decision. BSP is forecast to hold its benchmark rate at 6.25 percent on Thursday, according to almost all economists surveyed by Bloomberg.Medalla said expectations will be well within the bank’s inflation target by next year.
Moving forward, Medalla said regulators should continue to strike a balance between establishing strong institutions while encouraging innovation in the design of tools that would have the requisite safeguards to build-in resilience. This balance would help crisis-proof the system.
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