BSP to keep policy settings tight

January 7, 2024 - 4:05 PM
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Bangko Sentral ng Pilipinas (Philstar file photo)

The Philippines’ central bank said on Friday it is necessary to keep monetary policy settings sufficiently tight until a sustained downtrend in inflation becomes evident.

It will take appropriate action as needed to bring inflation back to target, Bangko Sentral ng Pilipinas said in a statement after the statistics agency reported that inflation was at 3.9% in December.

— Reporting by Neil Jerome Morales and Mikhail Flores; Editing by Kanupriya Kapoor