Bangko Sentral ng Pilipinas: No Further Tightening in the Philippines for Now
October 23, 2014
In a statement released after the latest Filipino central bank policy meeting, the decision not to raise interest rates was justified by a somewhat better inflation outlook.
Latest forecasts show a lower inflation path for 2014-2016, reflecting easing pressures on commodity prices. Inflation expectations have also remained broadly stable and aligned to the inflation target. Latest forecasts show a lower inflation path for 2014-2016, reflecting easing pressures on commodity prices. Inflation expectations have also remained broadly stable and aligned to the inflation target.
The key interest rate stays at 4.0%, 50 basis points higher than the benchmark level from the start of 2013 through mid-2014. There were then hikes of 25 basis points each in July and September of this year.
Copyright 2014, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
Tags: Filipino monetary policy
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