hiked
its benchmark interest rate further although at a slower
pace of 25 basis points to 6.25% , and said its next
policy move would depend largely on how consumer prices will
behave in the coming months.
(Reporting by Enrico Dela Cruz
Editing by Ed Davies)
(Adds central bank comment in statement)
MANILA, March 31 (Reuters) - Philippine annual inflation
in March was expected to come in between 7.4% and 8.2%, with
downward pressure seen from lower prices of petroleum and some
food items, the central bank said on Friday, ahead of the
release of the data on April 5.
High inflation, which at 8.6% in February was well outside
the central bank's target range of 2% to 4%, remains the top
concern for monetary authorities, Bangko Sentral ng Pilipinas
(BSP) governor Felipe Medalla reiterated earlier this week.
"The BSP remains prepared to respond appropriately to
continuing inflation risks in line with its data-dependent
approach to monetary policy formulation," the central bank said
in a statement.
The BSP last week
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