Economy 1 MIN READ

Philippine central bank stands ready to adjust policy

May 12, 2022By Reuters

The Philippine central bank stands ready to adjust its monetary policy settings if it sees signs of demand-driven inflation, its governor said on Thursday.

Bangko Sentral ng Pilipinas Governor Benjamin Diokno said the monetary authority supports the implementation of non-monetary measures by the government to address supply-side factors currently driving consumer prices up.

“The BSP stands ready to adjust our monetary policy settings, should we see material risk of these supply-side pressures spilling over to the demand side,” Diokno said ahead of a policy meeting on May 19.

(Reporting Neil Jerome Morales and Karen Lema; Editing by Martin Petty)

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