MANILA, Aug 19 (Reuters) - The Philippine central bank will respond to the U.S. Federal Reserves' policy tightening, but does not have to match the magnitude of its rate hikes, its governor said on Friday.
The Southeast Asian nation's monetary policy remains accommodative and supportive of growth, central bank Governor Felipe Medalla told a business forum.
The Philippine central bank increased its benchmark interest rates by half a percentage point to 3.75% on Thursday, as expected, ahead of a widely anticipated 50 or 75 basis points rate hike by the Fed next month. (Reporting by Neil Jerome Morales; Editing by Kanupriya Kapoor)
