Interest rates already at their peak - Diokno

The benchmark interest rate in the Philippines is already at its peak, with the central bank expected to pause as inflation is seen slowing down and economic growth rebounding.

- LOUISE MAUREEN SIMEON

Finance Secretary Benjamin Diokno said he expects the Bangko Sentral ng Pilipinas (BSP) to keep rates unchanged in its scheduled meeting next week.

Diokno was the BSP governor during the Duterte administration and currently sits on the Monetary Board.

"I think we have reached the highest level in interest rates," Diokno told reporters on the sidelines of the bell ringing ceremony for the retail dollar bond issuance yesterday.

"The US Federal Reserve, ECB (European Central Bank) have paused already. And given the decline in inflation, there's no more justification for higher interest rates," he said.