The Philippines to keep policy tight despite inflation easing

“The monetary board deems it necessary to keep monetary policy settings sufficiently tight until a sustained downtrend in inflation becomes evident,” the Bangko Sentral ng Pilipinas said. — Reuters

MANILA: The Philippine central bank says it is necessary to keep monetary policy settings “sufficiently tight” and it is ready to take further action, highlighting its wariness of inflation despite a slowdown in the pace of increases.

The consumer price index climbed 4.1% in November, the lowest rate of growth since March 2022 and less than the 4.3% forecast in a Reuters poll. Inflation was 4.9% in October.