Incoming Philippine central bank governor not ruling out more rate hikes

29/6/2022 12:55:00 PM

Incoming Philippine central bank governor not ruling out more rate hikes

Incoming Philippine central bank governor not ruling out more rate hikes

MANILA : Incoming Philippine central bank governor Felipe Medalla said on Wednesday he was not ruling out further interest rate hikes to combat above-target inflation even as he stressed that future policy decisions will be data driven. Medalla, who will take on the role of Bangko Sentral ng Pilipinas (BS

MANILA : Incoming Philippine central bank governor Felipe Medalla said on Wednesday he was not ruling out further interest rate hikes to combat above-target inflation even as he stressed that future policy decisions will be data driven.Medalla, who will take on the role of Bangko Sentral ng Pilipinas (BSP) governor on July 1, also said the central bank need not match rate increases by the U.S. Federal Reserve.

The central bank kicked off its tightening cycle in May by raising rates by 25 basis points and followed up with another quarter-point increase in June. Its next policy review is in August.

Read more: CNA »

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LinkedIn MANILA : Incoming Philippine central bank governor Felipe Medalla said on Wednesday he was not ruling out further interest rate hikes to combat above-target inflation even as he stressed that future policy decisions will be data driven.Copy to clipboard https://str.Activists had sought to disqualify Mr Ferdinand Marcos Jr because of decades-old tax violations.LinkedIn TAIPEI : Taiwan's central bank is still working on its digital currency and while it's unclear when the scheme could roll out to the public it will push ahead with it, governor Yang Chin-long said on Wednesday.

Medalla, who will take on the role of Bangko Sentral ng Pilipinas (BSP) governor on July 1, also said the central bank need not match rate increases by the U.S. Mr Marcos Jr, 64, the son and namesake of the notorious dictator overthrown in a 1986"people power" uprising, won the May 9 election in a landslide and will be sworn in on Thursday for a six-year term. Federal Reserve. "The court held that in the exercise of its power to decide the present controversy led them to no other conclusion but that respondent Marcos Jr is qualified to run for and be elected to public office," the court said in a statement. The central bank kicked off its tightening cycle in May by raising rates by 25 basis points and followed up with another quarter-point increase in June. Activists had appealed to the court to overturn the election commission's dismissal of their petitions, which sought the disqualification of Mr Marcos Jr before the ballot because of his decades-old tax violations, which they argued made him ineligible to run. Its next policy review is in August." As this is a huge project, it's uncertain that even in two years' time the CBDC platform can be completed, Yang said.

Source: Reuters . The Marcos Jr camp did not immediately respond to a request for comment, but has previously rejected the petitions as attempts to hobble his campaign. The Marcos Jr camp did not immediately respond to a request for comment but has previously rejected the petitions as attempts to hobble his campaign.