Philippine central bank ready to act as inflation seen below 4% in 2023

MANILA, Aug 5 (Reuters) – The governor of the Philippine central bank on Friday reiterated its readiness to act to combat inflation, which it said could fall below 4% next year.

At a business forum, Felipe Medalla said there was a chance for inflation to return within the central bank’s 2-4% target next year despite data showing the consumer price index rose to a near four-year high in July.

(Reporting by Neil Jerome Morales and Karen Lema; Editing by Martin Petty)