September 25, 2018 / 1:50 PM / 2 months ago

Philippines central bank to show strong policy action -deputy governor

LONDON, Sept 25 (Reuters) - The central bank of The Philippines will take strong action at its next meeting on Thursday, deputy governor Diwa Guinigundo said on Tuesday.

The central bank is widely expected to raise its key interest rate by 50 basis points to 4.5 percent in a bid to curb inflation and shore up the shaky peso currency, according to a Reuters’ poll.

“I expect strong monetary policy action,” said Diwa Guinigundo, speaking on the sidelines of investor meetings in London.

Policy makers have hiked interest rates by 100 bps since May, to tamp down price pressures from higher taxes, a weak peso , and rising food and fuel costs. (Reporting by Marc Jones, writing by Karin Strohecker, editing by Jamie McGeever)

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