• BSP keeps key rates, cuts 2015 inflation forecast

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    THE Philippine central bank kept key interest rates unchanged as expected but trimmed its inflation forecast for 2015 to 1.4 percent at a monetary policy meeting on Thursday.

    The previous inflation forecast for the full year was 1.6 percent.

    The rise in consumer prices has fallen below the Bangko Sentral ng Pilipinas’ 2-4 percent target, staying at a record low of 0.4 percent last month.

    The Bangko Sentral ng Pilipinas’ policymaking Monetary Baord kept the overnight borrowing and lending rates at 4 percent and 6 percent respectively.

    The BSP also held the special deposit account (SDA) rate steady at 2.50 percent, while the reserve requirement ratio (RRR) for banks still stands at 20 percent. Mayvelin U. Caraballo

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