Central Banks
Philippine Central Banker Signals 2023 Pause as Term Nears End
- Medalla indicates he’s not confident of being reappointed
- Says likes to see more capital markets, payment system reforms
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The Philippine central bank will probably keep its benchmark interest rate steady for the rest of the year to ensure that prices have cooled sufficiently before considering monetary easing in 2024, according to the governor whose term is ending on July 3.
“Waiting is the better strategy. Maybe the optimal waiting time is up to January or February if current conditions remain,” Governor Felipe Medalla said in interview with Bloomberg Television’s David Ingles and Yvonne Man on Friday when asked about his rate cut outlook. The first two months of 2024 “will be a good time to say that we have room to cut,” he said.