Bilyonaryo - Business

Eyes on inflation: Medalla firm on BSP’s top priority despite US banks’ fallout

March 27, 2023

Bilyonaryo.com

Slowing down inflation remains the Bangko Sentral ng Pilipinas’ (BSP) top priority even after the fallout of three global banks sent shockwaves through the global financial system.

In a recent interview with CNBC, BSP Governor Felipe Medalla
said the expressed confidence that the spillover effects from the collapse of Silicon Valley Bank and Signature Bank won’t affect the central bank’s efforts in addressing inflation.

“We are an inflation-targeting central bank that of course is also very concerned about financial stability. The good news is that I don’t think the second concern is a constraint in achieving the first concern,” he said.

Medalla earlier said that local banks and companies have no exposure to SVB, the first among global institutions to collapse this year.

“We can be almost totally focused on getting inflation back to what we call a target-consistent path,” Medalla added.

Related News Tags: Bangko Sentral ng Pilipinas (BSP), banks, BSP governor Felipe Medalla, inflation

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