Reuters, Manila In light of this week's data indicating that annual inflation in 2024 remained below its target range of 2% to 4%, the governor of the Philippines stated on Thursday that the central bank had the authority to relax monetary policy.

"There's still some room to ease," stated Eli Remolona, the governor of the Bangko Sentral ng Pilipinas (BSP), during a Rotary Club function.

Even though consumer price hikes accelerated for a third consecutive month in December to 2.9%, exceeding economists' forecasts, the Philippines achieved its 2% to 4% inflation target for the first time since 2021 last year.

According to Remolona, inflation is hampered by uncertainty surrounding the trade policy of U.S. President-elect Donald Trump.

Manila's Reuters The governor of the Philippines said on Thursday that the central bank had the power to loosen monetary policy in view of this week's data showing that annual inflation in 2024 stayed below its goal range of 2% to 4%.

"There's still some room to ease," said Bangko Sentral ng Pilipinas (BSP) governor Eli Remolona during a Rotary Club event.


For the first time since 2021, the Philippines met its 2% to 4% inflation target last year, despite consumer price increases accelerating for a third straight month in December to 2.9%, above economists' projections.

Remolona claims that uncertainty around U.S. President-elect Donald Trump's trade strategy is impeding inflation.