Philippine says ready to act on inflation pressures, ahead of meeting

05/18/2022 | 01:44am

MANILA, May 18 (Reuters) - The Philippine central bank stands ready to act should it see any sign of inflation expectations becoming disanchored, Governor Benjamin Diokno said on Wednesday, in remarks a day ahead of the monetary authorities' policy meeting.

The Bangko Sentral ng Pilipinas is expected to raise the overnight reverse repurchase facility rate by 25 basis points to 2.25% on Thursday to curb rising inflationary pressures, according to most economists in a May 12-16 Reuters poll.

(Reporting by Neil Jerome Morales and Enrico Dela Cruz; Editing by Martin Petty)

© Reuters 2022
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