MANILA, Philippines—The Bangko Sentral ng Pilipinas (BSP) for the first time on Thursday (March 11) dropped hints it may take action against ongoing price spikes with a “calibrated monetary response” if more evidence emerges that inflation, induced by supply issues, is being aggravated by consumers rushing to buy goods in anticipation of higher prices.
At the same time, however, BSP Governor Benjamin Diokno said the agency’s response to the ongoing inflation spike, mainly by refraining from raising interest rates, was a “prudent approach” which would help the domestic economy recover from a slump in 2020.
At an online briefing, the central bank chief said the regulator is closely wat…
Keep on reading: BSP hints at ‘calibrated monetary response’ to pesky inflation spike