MANILA, May 30 (Bloomberg): Incoming Philippine central bank Governor Felipe Medalla signaled a possible interest-rate increase in June.
Medalla, who takes office from July 1, is on the "same page” as outgoing Governor Benjamin Diokno in agreeing that a rate hike is likely next month, he said in a text message response to a Bloomberg News query.
Bangko Sentral ng Pilipinas is likely to increase the key rate by another 25 basis points in the next policy meeting, Diokno said earlier this month.
Medalla, a member of the monetary policy board, will serve as central bank governor until mid-next year.
The Philippines in May joined global central banks in raising borrowing costs to fight inflation.
BSP is next scheduled to decide on the key rate on June 23.- Bloomberg