Bangko Sentral ng Pilipinas

June 23, 2016

Interest rate changed had been unveiled June 3, so it’s unsurprising that Filipino central bank rates were left unchanged at today’s scheduled policy review.  The repo rate stays at 3.0%; a cut three weeks ago from 4% was the first change since September 2014.  Overnight lending and deposit rates remain at 3.5% and 2.5%.  A released statement observes rising downside global growth risks but firm domestic economic activity.  Inflation is below the 2-4% target now projected to hover just above 2% later this year and to move closer to the target mid-point in 2017 and 2018.

Copyright 2016, Larry Greenberg.  All rights reserved.  No secondary distribution without express permission. 

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