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.

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