The Philippine central bank said the country's inflation might fall to its lowest point in two decades in June, dragged down by cheaper electricity, food and fuel, local newspaper reported Tuesday.
The June inflation is expected to fall between a range of 1.2-2.1 percent, providing room for continued monetary policy easing, the Business Week said, quoting Central Bank Governor Amando Tetangco Jr.
"The BSP (central bank) will continue to monitor price developments, both domestically and in the international market to ensure that our policy stance remains appropriate and responsive," Tegangco said.
The central bank has slashed its key overnight borrowing rate by 1.75 percentage points since December to cope with the worsening global financial crisis. The rate now stands at 4.25 percent, the lowest in 17 years, the report said.
Source:Xinhua
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