Overnight Filipino Reverse Repo Rate Left at 3.0%
August 10, 2017
The key interest rate at Bangko Sentral ng Pilipinas has been at 3.0% since June 2016 and will stay at that level after the Bank Board’s latest review. The decision is explained in a statement that defines the inflation environment as still “manageable.” Although inflation has recently risen somewhat and despite acknowledging price risks tilted somewhat to the upside, officials are confident it will be confined within the target range during the 2017-19 forecast period. The reserve requirement ratio was also left steady and, like the interest rate, deemed “appropriate.”
Copyright 2017, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
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