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Philippines need not match Fed's 25-basis point hike, finance minister says

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The Philippines' finance minister said monetary authorities have room to pause on rate hikes in August despite a recent policy tightening by the U.S. Federal Reserve.

"I do not think we have to match. That is my view and we have to monitor other indicators like inflation," Finance Secretary Benjamin Diokno told reporters on Friday during his weekly media briefing. His comments were embargoed until Monday.

Inflation is expected to return to within the central bank's 2% to 4% target range in the fourth quarter, Diokno said.

 

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