The Philippine central bank is likely to leave its key rate unchanged at its policy meeting this week, Governor Felipe Medalla said.

Medalla said a pause is the “most likely result” at the May 18 meeting, he said on the sidelines of a forum of the central bank and the International Monetary Fund in central Cebu province on Monday.

He was responding to a comment by Philippine Finance Secretary Benjamin Diokno, who sits on the central bank’s seven-member monetary policy board, that he will vote for a pause in the benchmark interest rate in this week’s decision.