Bangko Sentral ng Pilipinas
March 22, 2018
Filipino officials didn’t tighten their monetary stance at the latest review but left the door open to such a move in the future. The overnight reverse repo rate and lending rate have been at 3.0% and 4.0% for some time. In mid-2016, officials switched from a point target to a 3-4% target range. A released statement today “observed that the risks to the inflation outlook remain weighted toward the upside owing mainly to price pressures emanating from possible further increases in global oil prices. At the same time, the Monetary Board saw that inflation expectations continue to be anchored within the inflation target band over the policy horizon. The BSP is watchful against any signs of second-round effects and inflation becoming broader based.” Inflation is currently above target and being watched to confirm that it moves lower in the medium term.
Copyright 2018, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
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