Reported 2 months ago
Philippine central bank Governor Eli Remolona indicated that the chance of a rate cut next week is reduced after July's inflation reached a nine-month high of 4.4%, driven by increased utility costs. This figure exceeded the central bank's target for the first time this year and overshadowed earlier forecasts. Remolona suggested that a decision on a rate cut would depend on upcoming economic growth data and prevailing inflation trends.
Source: YAHOO