Philippine central bank chief: Fed move 'big factor' in Sept policy decision

📆 9/2/2022 1:13 PM
📰 ChannelNewsAsia

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MANILA : The magnitude of a widely expected U.S. interest rate hike this month will be a 'big factor' in the Philippine central bank's decision on whether to tighten policy further, its governor said on Friday, ahead of a rate-setting meeting on Sept. 22.'You cannot not react to what the Fed is doing,' Ba

MANILA : The magnitude of a widely expected U.S. interest rate hike this month will be a"big factor" in the Philippine central bank's decision on whether to tighten policy further, its governor said on Friday, ahead of a rate-setting meeting on Sept. 22.

"We are concerned about the effects of the exchange rate on the inflation," Medalla said. Higher costs of imports, including fuel and some food items, have added upward pressure on consumer prices. The dollar index firmed ahead of Friday's U.S. labour data that could bolster the case for the Fed to deliver a third 75 basis point interest rate hike when it holds a Sept. 20-21 policy meeting.

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Philippine central bank chief: Fed move 'big factor' in Sept policy decisionMANILA : The magnitude of a widely expected U.S. interest rate hike this month will be a 'big factor' in the Philippine central bank's decision on whether to tighten policy further, its governor said on Friday, ahead of a rate-setting meeting on Sept. 22.'You cannot not react to what the Fed is doing,' Ba
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