MANILA -The Philippine central bank is ready to raise interest rates if necessary as the country is not yet out of the inflation woods, its governor said. 'If supply side shocks are large enough and they are not compensated by weaker demand, then yes we will have to raise again,' Bangko Sentral ng Pilipinas Governor Eli Remolona told CNN Philippines late on Thursday. Remolona's remarks came ahead of the release of official data that showed annual inflation eased for a sixth straight month in July due to slower increases in food and utility costs.

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