• BSP keeps key rates, lowers inflation forecast

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    Monetary authorities decided to maintain its key interest rates at its current level at their fifth policy meeting for the year on Thursday, noting that domestic economic conditions remain firm.

    The Bangko Sentral ng Pilipinas (BSP) also lowered its inflation forecast for the year to 1.8 percent from 2 percent. It said forecast for 2017 was also adjusted downward to 2.9 percent from 3.1 percent, and trimmed further to 2.6 percent for 2018.

    The reverse repurchase (RRP) facility rate remained at 3.0 percent. The BSP also held corresponding rates on the overnight lending and deposit facilities were also kept steady at 3.5 percent and 2.5 percent, respectively. The reserve requirement ratios were also left unchanged at 20 percent. MAYVELIN U. CARABALLO

    MC/NT

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