ANZ Bank: Philippine Central Bank hints at further interest rate hikes.

Sanjay Mathur and Kausani Basak of the research department of Australia and New Zealand Banking Group (ANZ) stated in a report that the Central Bank of the Philippines has hinted at further interest rate hikes. Governor of the Central Bank of the Philippines, Benjamin Diokno, said that the increase in fuel prices has started to affect other industries, and inflation expectations have also begun to rise. "After today's rate hike, the Central Bank of the Philippines is facing the daunting task of preventing inflation expectations from becoming unanchored while continuing to support growth," ANZ said. The central bank also stated that future policy measures will be data-driven, and given that external challenges remain unabated, the bank may raise interest rates again.