No change in BSP policy stance

A consensus has emerged among analysts pointing to a steady policy stance by the Philippine central bank when it meets later this week, with BMI Research also expecting no change to the key interest rates.

“The Philippines’ ongoing growth-inflation sweet spot informs our forecast for the Bangko Sentral ng Pilipinas [BSP] to keep its benchmark interest rate unchanged at 4 percent in 2015,” the think tank unit of the Fitch Group said in its weekly economic analysis. BMI was referring to the key rate for overnight borrowing, or the reverse repurchase (RRP) facility.