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Philippines stays on tightening cycle amid high inflation: central bank

MANILA: The Philippine central bank remains in a tightening cycle as inflation stays elevated, Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. said on Tuesday (Nov 3).

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FILE PHOTO: Shoppers at a street market in Taguig City, the Philippines, on Wednesday, Sept. 4, 2024. Headline inflation settled at 7.2 per cent in September, well above the government's three per cent target. - Bloomberg

MANILA: The Philippine central bank remains in a tightening cycle as inflation stays elevated, Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. said on Tuesday (Nov 3).

Headline inflation settled at 7.2 per cent in September, well above the government's three per cent target. The BSP raised rates by 50 basis points last month, and Remolona said inflation is expected to peak in "a few more months."

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