MANILA, June 25 (Reuters) - Philippine Finance Secretary Benjamin Diokno said he expected the central bank, of which he is a policymaker, to take a "long pause" in raising interest rates steady as inflation is expected to ebb.
The bank held its key policy rate steady at 6.25% for a second straight meeting on Thursday.
I don't see any cut until we really have that strong evidence of a decline" in inflation, Diokno said.
He is one of the seven members of the policy-making Monetary Board, which next meets on Aug. 17 to review policy under the leadership of a new central bank governor.
Since May last year, the central bank raised rates 425 basis points to combat inflation.
Persons:
Benjamin Diokno, Diokno, Ferdinand Marcos Jr, Eli Remolona, Felipe Medalla, Neil Jerome Morales, WIlliam Mallard
Organizations:
Philippine Finance, Bangko Sentral ng Pilipinas, Thomson
Locations:
MANILA, Bangko