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Philippine Central Banker Strikes Less Hawkish Tone on Hikes

  • BSP chief signals smaller rate hikes after an aggressive run
  • Fed is the biggest source of uncertainty, Medalla says
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WATCH: Philippine central bank Governor Felipe Medalla discusses monetary policy and the state of the economy.Source: Bloomberg
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The Philippine central bank’s series of interest-rate hikes have likely contained inflation, Governor Felipe Medalla said, as he signaled a more gradual tightening path for the rest of the year.

Bangko Sentral ng Pilipinas is more likely to deliver one or two 25-basis point key rate increase for the rest of the year, he told reporters on the sidelines of a business forum Friday afternoon. Three consecutive quarter-point hikes are unlikely, he said.