Philippine central bank chief says 2024 inflation forecast likely to be revised lower

MANILA, July 29 (Reuters) – The Philippine central bank will likely revise down its inflation forecast for 2024, its governor said on Friday, though he did not specify a figure.

Bangko Sentral ng Pilipinas chief Felipe Medalla earlier in the day said inflation in 2023 is expected to fall back to within its 2%-4% target band, from a projected average of 5% this year.

(Reporting by Neil Jerome Morales; Editing by Kanupriya Kapoor)