This month’s Monetary Board policy meeting will not be moved up in response to August’s inflation surprise, the chief of the Bangko Sentral ng Pilipinas (BSP) said on Monday, but a fresh rate hike is all but likely to be announced.

“We will follow the regular cycle. The (meeting will still be on the) 27th (of September) with strong monetary action,” central bank Governor Nestor Espenilla Jr. told reporters in an interview.