Bangko Sentral ng Pilipinas Retains 4.0% Overnight Borrowing Rate
March 26, 2015
The Filipino Monetary Policy Board engineered its first interest rate hike since May 2011 in July 2014 and followed up that move with a second 25-basis point increase to 4.0% in September 2014. Those increases reversed half the easing done in 2012. No changes were done in 2013. A statement released today after the latest Board meeting calls inflation manageable, demand robust, business sentiment buoyant, liquidity adequate, and public-sector spending high. Inflation is projected to stay at 2-3% over the coming years, which is good set against a 2-4% target, well-anchored inflation expectations and balanced price risks.
Copyright 2015, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
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