There will be no more off-cycle (policy move) in the Philippines' said central bank Governor Felipe Medalla. - Reuters
MANILA, July 26 (Reuters): The Philippine central bank chief on Tuesday ruled out another off-cycle move on monetary policy tightening, while signalling a rate hike of less than 75 basis points at its Aug. 18 meeting in a continuing bid to curb red-hot inflation.
"One thing I can say is you can surprise people only once, so there will be no more off-cycle (policy move)," Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla said.
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