Philippine Central Bank Keeps Rate Hike on Table Despite Weak GDP Growth

The Philippine Central Bank is contemplating further interest rate hikes to steer inflation back to its target despite a surprising slowdown in GDP growth last quarter. Governor Eli Remolona emphasized that while there's less urgency now, the bank remains vigilant on inflation. This move is crucial as it reflects the bank's commitment to maintaining economic stability and controlling inflation, which could have broader implications for consumer spending and economic growth in the near term.