{"id":7751,"date":"2023-04-12T14:51:32","date_gmt":"2023-04-12T14:51:32","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/philippine-central-bank-signals\/"},"modified":"2023-04-12T14:54:09","modified_gmt":"2023-04-12T14:54:09","slug":"philippine-central-bank-signals","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/philippine-central-bank-signals\/","title":{"rendered":"Philippine central bank signals pause in rate hikes in May"},"content":{"rendered":"<p>MANILA (Reuters) &#8211;     The Philippines&#8217; central bank could pause its interest rate- hiking cycle at its meeting next month due to easing inflation, its governor said on Wednesday.<\/p>\n<p>&#8220;We are probably pausing in the next meeting because the inflation prints are very good,&#8221; Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla said in a briefing in Washington aired live on Facebook.<\/p>\n<p>Tempered inflation in April puts monetary authorities in a position to pause policy, Medalla said, adding that the inflation average for 2023 will be revised downwards from the 6% projection.<\/p>\n<p>The Philippine central bank next meets on May 18 to set benchmark interest rate [PHCBIR=ECI], which it has raised by 425 basis points since last year to 6.25%.<\/p>\n<p>The BSP was Asia&#8217;s most aggressive central bank in raising interest rates to combat elevated inflation and keep up with the U.S. Federal Reserve&#8217;s tightening cycle.<\/p>\n<p>The Fed&#8217;s actions are still relevant but less of a factor in its decision making, Medalla said, adding that monetary policy is largely driven by inflation.<\/p>\n<p>Philippine annual inflation [PHCPI=ECI] hit 7.6% in March, its second consecutive month of easing, giving the BSP leeway to pause in its monetary tightening cycle.<\/p>\n<p \/>\n<p> (Reporting by Neil Jerome Morales; editing by John Stonestreet and Bernadette Baum)<\/p>\n<p><a href=\"http:\/\/lynettelockhart.com\/client\/philippine-central-bank-signals\/file-photo-file-photo-a-logo-of-bangko-sentral-ng\/\"><img decoding=\"async\" src=\"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportEconomy\/tagreuters.com2023binary_LYNXMPEJ3B0L8-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ3B0L8-VIEWIMAGE\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MANILA (Reuters) &#8211; The Philippines&#8217; central bank could pause its interest rate- hiking cycle at its meeting next month due to easing inflation, its governor said on Wednesday. &#8220;We are probably pausing in the next meeting because the inflation prints are very good,&#8221; Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla said in a briefing [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":7752,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1216],"tags":[],"class_list":["post-7751","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-economy"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportEconomy\/tagreuters.com2023binary_LYNXMPEJ3B0L8-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/7751","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=7751"}],"version-history":[{"count":1,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/7751\/revisions"}],"predecessor-version":[{"id":7753,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/7751\/revisions\/7753"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/7752"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=7751"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=7751"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=7751"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}