• The Bangko Sentral ng Pilipinas (BSP) is ready to deliver more policy rate hikes this year if economic growth picked up in the last quarter of 2023, its governor said on Friday.
  • BSP Governor Eli M. Remolona, Jr. said fourth-quarter gross domestic product (GDP) may be higher than the 5.9% growth in the third quarter.
  • “If the growth is strong, that gives us a bit more room to hike,” he told reporters on the sidelines of the 2024 Annual Reception for the Banking Community.
  • Mr. Remolona said the Philippine central bank is still hawkish despite easing inflation and talks about rate cuts this year. He noted the Philippine economy could still take on further monetary policy tightening by the BSP.