Philippine Central Bank Governor Eli Remolona Jr. warned that oil prices approaching $100 per barrel could push Philippine inflation beyond the BSP's 2%-4% target range. Speaking on Insight with Haslinda Amin, Remolona said this development could potentially force a rate hike after February's policy cut.

The warning comes as global oil markets show signs of volatility, with Brent crude hovering near multi-year highs. The BSP had previously reduced interest rates to stimulate economic growth, but rising energy costs threaten to derail inflation control efforts.

For the Philippines, where energy imports significantly impact the trade balance, $100 oil would create additional economic pressure. The central bank's stance signals growing concern about inflation risks despite earlier easing measures, suggesting policymakers may need to reverse course if energy prices continue climbing.