Philippine Central Bank Vows Necessary Action to Hit 3% Inflation Target
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The Philippine central bank is committed to taking necessary actions to achieve its 3% inflation target, as inflation surged to 7.2% in April, influenced by global oil price shocks and ongoing Middle East conflicts. The Bangko Sentral ng Pilipinas (BSP) noted a broad-based increase in services inflation, indicating rising underlying price pressures. The BSP raised rates in April and anticipates average inflation to exceed 4% in 2026 and 2027, with inflation expectations increasing, posing risks to the 3% target.
Source: MorningStar The copyright of this article belongs to the original author/organization.
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