BSP keeps key rates, adjusts inflation outlook

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The Philippine central bank decided on Thursday to keep its key interest rates unchanged, but adjusted downward its inflation forecast for 2015.

The Bangko Sentral ng Pilipinas (BSP) now projects inflation for full-year 2015 at 2.1 percent, down from a previous forecast of 2.3 percent. For 2016, the forecast was revised to 2.5 percent from 2.6 percent.

For its key policy stance, the BSP kept the rate for overnight borrowing, or reverse repurchase (RRP) facility at 4 percent, while that for overnight lending or repurchase facility stays at 6 percent.

The special deposit account (SDA) rate was also frozen at 2.50 percent, while the reserve requirement ratio (RRR) for banks still stands at 20 percent.

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