The country’s central bank on Wednesday said it is closely watching the developments of the military conflict in the Middle East for potential effects on local inflation.
During a briefing, Bangko Sentral ng Pilipinas Governor Eli Remolona said the ongoing war between Israel and Palestinian militant group Hamas may have “spillover effects on global growth.”
“So far so good, but we’re watching developments. It’s a global phenomenon. It’s not specific to us,” he said.
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