MANILA – The Philippine central bank is ready to use available tools to bring inflation back within the official 2%-4% target range, its governor said on Monday, after last week’s surprise 75 basis points hike in key interest rates.
Bangko Sentral ng Pilipinas Governor Felipe Medalla also said the domestic economy, aside from red-hot inflation, also faces a risk from possible reimposition of COVID-19 restrictions.
(Reporting by Neil Jerome Morales and Enrico Dela Cruz; Editing by Martin Petty)