IMF calls for timely action from BSP if inflation spikes

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THE Bangko Sentral ng Pilipinas (BSP) should be ready to take timely action if upward price pressures in the country persist, International Monetary Fund Resident Representative to the Philippines Yongzheng Yang said at The Manila Times 7th Business Forum in Davao City.

“If inflation pressures continue to go up, then the BSP should be ready to take action,” Yang said at the forum held at the Marco Polo Hotel in Davao on Friday.

Yang said that it was important for monetary authorities to keep an eye on inflation amid the high economic and credit growth in the country.

International Monetary Fund Resident Representative to the Philippines Yongzheng Yang PHOTO BY RUSSELL PALMA

“In that context, it is very important for the monetary authority to keep an eye [on]and make sure that inflation be maintained within the target,” he said.


With the theme, “Build, Consume, Grow: Gaining momentum for an emerging economy to soar,” the conference gathered business leaders and economic thinkers who will discuss their insights as well as prevailing trends and challenges in business and the general economy.

Other resource speakers are Francisco Dakila Jr., managing director for the monetary policy subsector, Bangko Sentral ng Pilipinas; Eduardo Francisco, president of BDO Capital and Investment Corp.; Shiela Lobien, regional director of Jones Lang LaSalle Philippines; Birgit Hansl, lead economist and private sector leader of the World Bank; and Ernesto Pernia, secretary of socioeconomic planning.

The Manila Times Business Forum, which started in 2014, is an annual assembly of The Times, its partners, advertisers, readers and subscribers. MAYVELIN U. CARABALLO

 

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