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BSP optimistic inflation will be back to target by Q4

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Jessica Fenol, ABS-CBN News

<p>MANILA — The Bangko Sentral ng Pilipinas said it is optimistic that inflation will be back within the target later this year after hitting 14-year high earlier this year.</p><p>During the Philippine Economic Briefing held in Toronto late Thursday, newly appointed BSP Gov. Eli Remolona highlighted the country&#x27;s strong recovery from the pandemic and its flexible inflation targeting framework, which is focused on price stability.</p><p>Inflation in June eased to 5.4 percent from 6.1 percent in May. </p><p>Remolona said it is expected to settle within the 2 to 4 percent target range by the fourth quarter of this year. </p><p>&quot;We think, at least our models tell us, that we will be within target range of 2 to 4 percent by Q4, by the last quarter this year,&quot; he said.</p><p>&quot;The 2 to 4 percent is not an arbitrary range. That&#x27;s a range, which we think is ideal for an economy like the Philippines which is growing at full capacity,&quot; he added. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/07/05/23/inflation-further-eases-to-54-percent-in-june">Inflation further eases to 5.4 percent in June</a></li></ul><p>The central bank chief also said the Philippines&#x27; strong banking system supported the Philippines&#x27; strong recovery from one of the world&#x27;s longest lockdowns. </p><p>During the event, Remolona also signified the BSP&#x27;s commitment to support the country&#x27;s climate change initiatives with its own sustainability strategies.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/06/23/23/marcos-jr-appoints-remolona-as-new-bsp-governor">Marcos Jr. appoints Monetary Board member Eli Remolona as new BSP Governor</a></li>	<li><a href="https://news.abs-cbn.com/business/11/20/22/how-some-filipino-families-cope-with-poverty-inflation">How some poor Filipino families cope with rising prices</a></li></ul><div><strong>RELATED VIDEO</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2360202" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

 The Bangko Sentral ng Pilipinas said it is optimistic that inflation will be back within the target later this year after hitting 14-year high early this year.

BSP optimistic inflation will be back to target by Q4

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BSP optimistic inflation will be back to target by Q4

Jessica Fenol,

ABS-CBN News

Published Jul 14, 2023 12:47 PM PHT

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Inflation

inflation targetting

banking system

Philippine Economic Briefing

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