Inflation above 3% would worry the Philippine central bank, says governor

Philippine central bank governor Eli Remolona expressed concern that inflation exceeding 3% would be troubling, as it is the midpoint of the government's target range of 2% to 4%. His comments were made ahead of the central bank's policy meeting on February 19. He noted that while business confidence is returning, it is not progressing as quickly as desired. Inflation rose to 2.0% in January, and the Bangko Sentral ng Pilipinas has reduced interest rates by 200 basis points to 4.5% since August 2024.