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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02-12-2023 16:19:18 (UTC+7)
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| EUR/USD | 1.0883 | ↑ Buy | |||
| GBP/USD | 1.2711 | ↑ Buy | |||
| USD/JPY | 146.80 | Sell | |||
| AUD/USD | 0.6673 | ↑ Buy | |||
| USD/CAD | 1.3497 | Sell | |||
| EUR/JPY | 159.76 | ↑ Sell | |||
| EUR/CHF | 0.9458 | ↑ Sell |
| Gold | 2,073.20 | ↑ Buy | |||
| Silver | 25.490 | Sell | |||
| Copper | 3.9195 | ↑ Buy | |||
| Crude Oil WTI | 74.38 | ↑ Buy | |||
| Brent Oil | 79.56 | Neutral | |||
| Natural Gas | 2.777 | ↑ Buy | |||
| US Coffee C | 183.70 | ↑ Sell |
| Euro Stoxx 50 | 4,417.25 | ↑ Buy | |||
| S&P 500 | 4,594.63 | ↑ Buy | |||
| DAX | 16,397.52 | ↑ Buy | |||
| FTSE 100 | 7,529.35 | ↑ Sell | |||
| Hang Seng | 16,847.00 | Sell | |||
| Small Cap 2000 | 1,862.64 | ↑ Buy | |||
| IBEX 35 | 10,140.80 | ↑ Buy |
| BASF | 43.240 | ↑ Buy | |||
| Bayer | 31.11 | ↑ Buy | |||
| Allianz | 235.25 | ↑ Buy | |||
| Adidas | 194.24 | Neutral | |||
| Lufthansa | 8.222 | Sell | |||
| Siemens AG | 156.00 | ↑ Buy | |||
| Deutsche Bank AG | 11.520 | ↑ Buy |
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| RON 95-III | 22.990 | 23.440 |
| E5 RON 92-II | 21.790 | 22.220 |
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| DO 0,001S-V | 21.590 | 22.020 |
| Dầu hỏa 2-K | 21.110 | 21.530 |
| ↂ Giá dầu thô thế giới | |||
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| Brent | $79.11 | -0.95 | -0.01% |
| $ Tỷ giá Vietcombank | ||
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