Bangko Sentral ng Pilipinas

December 22, 2016

The Filipino reverse repo rate, which has been at 3.0% since a 25-basis point hike in September 2014, was left unchanged at the latest Board meeting. So were its other interest rates and reserve requirement ratio. A released statement asserts the appropriateness of the current  monetary stance. Inflation is currently under the 2-4% target but projected to rise gradually into such. The statement, however, warns that risks to the inflation forecast have tilted somewhat to the upside and mentions the rise of world oil prices, requests for higher domestic electricity charges, strong domestic demand, and global uncertainties. The September 2014 rate increase followed a similar move that year in July. Those two moves reversed half of a full percentage point cut in the rate engineered through four moves during 2012.

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

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