Bangko Sentral hints on policy tightening

By Mayvelin U. Caraballo

May 19, 2022 12:28 am

THE Bangko Sentral ng Pilipinas (BSP) has hinted at abandoning its accommodative monetary policy stance, admitting that rising inflation rates are now having second-round effects on consumers.

'Given how the April 2022 inflation of 4.9 percent settled near the higher end of the BSP's forecast range of 4.2 to 5 percent, the space for maintaining an accommodative policy stance has considerably narrowed,' BSP Governor Benjamin Diokno said in a virtual briefing on Wednesday.

Bangko Sentral ng Pilipinas Governor Benjamin Diokno. TMT FILE PHOTO

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