The Bangko Sentral may need to keep key interest rates high as inflation remains elevated in the Philippines, a regional research group said.
MANILA -- Interest rates in the Philippines may remain high much longer than in other ASEAN countries as inflation in the country remains elevated, a regional research group said on Wednesday.
In a press briefing on Wednesday, AMRO Chief Economist Hoe Ee Khor said this will depend on factors such as food prices, which he noted were “a bit of an uncertainty at the moment.” “Even the Governor has expressed that interest rates will have to stay high until inflation comes down to within the target band. He has not ruled out even another increase in rates if necessary,” said Khor.
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