Philippines c.bank ready for further monetary policy moves

The Philippines' central bank stands ready to take further necessary monetary policy action to bring down inflation, which hit a 14-year high in November, to a target-consistent path, its governor said on Tuesday.

The balance of risk to the inflation outlook remains tilted to the upside for 2023 but is seen to be broadly balanced for 2024, central bank Governor Felipe Medalla said in a statement, ahead of a Dec. 15 rate setting meeting.