BSP wants inflation to remain firmly around the target midpoint, the governor says

MANILA – The Philippine central bank wants inflation to remain firmly around the middle of its target range of 2.0%-4.0%, the governor said on Tuesday.

“We are aggressive, but less than before,” Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona told the Reuters Global Markets Forum.

Mr Remolona said the central bank is happy with inflation, adding that policymakers are more concerned about inflation than growth.

Annual inflation accelerated for the fourth month in a row in May to 3.9%, up from 3.8% the month before, bringing the five-month average to 3.5%.

The central bank, which has kept its benchmark interest rate steady at its last five meetings, will meet on June 27 to review policy. – Reuters