“By 2024, when pent-up demand is gone, then monetary policy hopefully at that time will be much looser than what we have now.'
C.bank stands ready to bring inflation towards target‘ central bank governor
While pent-up domestic demand will carry the economy this year, it will likely fade by 2024, Bangko Sentral ng Pilipinas Governor Felipe Medalla said in a speech at a Rotary Club event. Central banks around the world, led by the U.S. Federal Reserve, have since last year raced to contain elevated inflation through large increases in benchmark rates, dampening economic growth and fuelling fears of recession.
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