MANILA -- The Monetary Board is considering an off-cycle hike in its policy interest rate, Bangko Sentral ng Pilipinas Governor Eli Remolona said on Tuesday.
“Right now I’m going to a meeting where we’ll look at the data… If the data says inflation will go up very significantly and there’s a risk of affecting inflationary expectations, then we may go for an off-cycle hike as early as Thursday . Pwede ring next week,” Remolona said. BSP Deputy Governor Francis Dakila Jr. said in a statement that they are intent on controlling inflation.
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