(Recasts, add details and background)
MANILA, Feb 8 (Reuters) - Philippine inflation "most
likely" peaked in January but the central bank cannot rule out
another surprise supply shock, its governor said on Wednesday.
January inflation, which hit a fresh 14-year high at 8.7%,
was higher than the top end of the central bank's forecast,
Governor Felipe Medalla told reporters.
The central bank on Monday reiterated its readiness to
adjust its monetary policy to anchor inflation expectations.
Its first rate-setting meeting is scheduled for Feb. 16,
with economists now flagging a higher chance that the central
bank will deliver a larger interest rate hike to tame prices.
(Reporting by Neil Jerome Morales
Editing by Ed Davies)
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