Eli Remolona Jr.
MANILA, Philippines — Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. said the central bank was prepared to raise interest rates “as much as necessary” to bring inflation back to its target, while acknowledging that the economy’s weakness would factor into its next policy decisions.
Speaking to reporters on Monday, Remolona noted that there had been some moderation in core inflation, a measure that strips out volatile items to provide a clearer picture of underlying price pressures.
READ: Remolona sees ‘little chance’ of aggressive interest rate hikes
Article continues after this advertisement
