Philippine central bank governor Felipe Medalla said on Friday he still expects inflation to return to within a target range by the fourth quarter of this year.
Medalla said Bangko Sentral ng Pilipinas' (BSP) next rate hike could be 25 or 50 basis points depending on the latest economic data. If inflation exceeds 9%, a 50 bps rate hike may be possible, he told reporters.
Inflation in January stood at 8.7%. (Reporting by Enrico Dela Cruz; Editing by Kanupriya Kapoor, Ed Davies)