Philippines central bank sees inflation 'back to normal' near 3% later this year
Tuesday, January 10, 2023
© Reuters. Bangko Sentral ng Pilipinas Governor Felipe Medalla poses for a photograph in his office at Manila, Philippines, November 18, 2022. REUTERS/Eloisa Lopez/Files MANILA (Reuters) - Philippine inflation is likely to be closer to 3% in late-2023 and in 2024, central bank governor Felipe Medalla said on Tuesday.
Medalla, speaking at a media forum, also said the economy remained strong and that pent-up domestic demand will continue driving growth.
"By the third quarter of this year, inflation will be back to normal," he said.
Annual inflation soared to 8.1% in December, the highest since 2008, bringing the full-year average to 5.8%, outside the central bank's 2%-4% target range.
The central bank earlier this month said it was ready to take all policy action necessary to bring inflation back within the target.
Monetary authorities are meeting for a rate setting meeting on Feb. 16.
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24-03-2023 23:30:06 (UTC+7)
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| EUR/USD | 1.0759 | Neutral | |||
| GBP/USD | 1.2225 | ↑ Sell | |||
| USD/JPY | 130.71 | ↑ Buy | |||
| AUD/USD | 0.6640 | ↑ Sell | |||
| USD/CAD | 1.3752 | ↑ Sell | |||
| EUR/JPY | 140.63 | ↑ Buy | |||
| EUR/CHF | 0.9875 | Sell |
| Gold | 1,987.70 | ↑ Sell | |||
| Silver | 23.295 | ↑ Sell | |||
| Copper | 4.0663 | ↑ Sell | |||
| Crude Oil WTI | 68.62 | ↑ Sell | |||
| Brent Oil | 74.38 | ↑ Sell | |||
| Natural Gas | 2.201 | ↑ Sell | |||
| US Coffee C | 179.30 | ↑ Buy |
| Euro Stoxx 50 | 4,123.85 | ↑ Sell | |||
| S&P 500 | 3,938.19 | ↑ Sell | |||
| DAX | 14,945.85 | ↑ Sell | |||
| FTSE 100 | 7,401.96 | ↑ Sell | |||
| Hang Seng | 19,915.68 | Sell | |||
| Small Cap 2000 | 1,728.25 | ↑ Sell | |||
| IBEX 35 | 8,781.82 | ↑ Sell |
| BASF | 45.865 | ↑ Sell | |||
| Bayer | 55.52 | Neutral | |||
| Allianz | 204.90 | Neutral | |||
| Adidas | 140.90 | ↑ Sell | |||
| Lufthansa | 9.355 | ↑ Sell | |||
| Siemens AG | 140.35 | ↑ Sell | |||
| Deutsche Bank AG | 8.528 | ↑ Sell |
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