Filipino Central Bank Interest Rates Unchanged
March 23, 2017
At the second meeting of the monetary board of Bangko Sentral ng Pilipinas, all policy settings including the 3.0% reverse repo rate were kept unchanged. A released statement calls inflation manageable while conceding that price risks are skewed somewhat to the upside. Inflation has picked up in the first couple of months of 2017 due to higher food and energy costs plus base effects, but expected inflation remains anchored. Headline CPI is projected to hover within its 2-4% targeted boundaries. growth prospects are favorable, but global uncertainties are abundant. The last changes to the reverse repo rate were a pair of 25-basis point hikes in July and September of 2014 that reversed half the tightening that had been done in 2012.
Copyright 2017, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
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