New Philippines governor says he may accelerate tightening
Felipe Medalla says policy rates could be raised by more than 25 basis points
The incoming Philippines central bank governor signalled his willingness to adopt more aggressive monetary tightening to strengthen the currency and reduce inflation, Bloomberg reported.
Felipe Medalla said the central bank would act if it thought the “exchange rate is overshooting too much, and that selling foreign exchange will not make the problem go away”. Then it “would clearly consider maybe increasing policy rates by more than our planned 25 basis points”, he said in a virtual briefing
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