Philippines Cautious About Raising Rates Too Much, Governor Says

The Philippine central bank will exercise caution against “too much” monetary tightening to avoid crimping economic growth, according to Governor Eli Remolona.

“If we are going to hike, we have to be very careful not to hike too much,” Remolona said at a briefing in Manila Friday, when asked if the economy can handle more tightening on top of the 425-basis points of increases since last year.