(Bloomberg) -- Philippine central bank Governor Felipe Medalla has signaled that pausing from policy rate increases may be an option when the monetary board meets in May, after inflation eased last month.

Most Read from Bloomberg

• A $1.5 Trillion Wall of Debt is Looming for US Commercial Properties

• Walmart Sues Capital One to End Its Credit-Card Partnership

• What Is Mifepristone and Why Is It Being Banned in the US?

• Flows and Fundamentals Make Man Group Suspicious of Stock Rally

• Abortion Pill to Be Blocked Nationwide Under Judge’s Order

Medalla, in a mobile-phone message late Saturday, said Bangko Sentral ng Pilipinas could pause on rate hikes if April’s month-on-month inflation “is low, like February and March.”

The central bank chief earlier said that it may be “too early” to keep the policy rate unchanged in the next meeting unless prices fall. Overall inflation cooled to the slowest in six months in March, with the month-on-month measure contracting for the first time since September 2021.

April inflation data is scheduled for release May 5, while the next monetary board meeting is set for May 18.

Most Read from Bloomberg Businessweek

• Scaramucci’s SkyBridge Capital Was Spiraling, and Then Came FTX

• What to Do With Your Money—and Your Life—in a Wild New World

• Apple’s Complex, Secretive Gamble to Move Beyond China

• The Chainsmokers Are Dancing Through the Silicon Valley Downturn

• Xi Jinping Launches a Charm Offensive to Repair China’s Tattered Image

©2023 Bloomberg L.P.