BSP keeps key rates unchanged

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The Philippine central bank’s monetary authorities decided to keep key interest rates unchanged at their sixth policy meeting for the year on Thursday.

The Bangko Sentral ng Pilipinas (BSP) also lowered its inflation forecast for the year to 1.7 percent from 1.8 percent. But it retained its inflation forecasts for 2017 and 2018 at 2.9 percent and 2.6 percent, respectively.

The rate for the reverse repurchase (RRP) facility remained at 3.0 percent. The BSP also held the corresponding rates for overnight lending and deposit facilities steady at 3.5 percent and 2.5 percent, respectively. The reserve requirement ratio (RRR) for commercial banks was also left unchanged at 20 percent.

MAYVELIN U. CARABALLO

MC/NT

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