Philippines may lean towards rate pause in May, Diokno says

Philippines Finance Secretary Benjamin Diokno.

MANILA, March 26 (Bloomberg): The Bangko Sentral ng Pilipinas (Philippines Central Bank) has done enough to address inflation and could pause from raising interest rates at the next policy meeting in May, Finance Secretary Benjamin Diokno said.

"Contrary to some analysts’ view that the BSP Monetary Board could even push its policy interest rate higher than 6.5 percent, I think that the BSP is leaning towards a pause in its policy meeting in May,” Diokno said in a mobile phone message to reporters on Sunday.

Diokno is a member of the BSP’s policymaking body.

BSP raised the overnight reverse repurchase rate by 25 basis points to 6.25% on Thursday.

That brings the cumulative increases since May to 425 basis points. The rate is at the highest since May 2007.

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Philippines , Central Bank , Measures


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