The Bangko Sentral ng Pilipinas' Monetary Board has decided to keep its target reverse repurchase rate at 6.5% due to an inflation outlook that leans towards the upside.
MANILA, Philippines — The Bangko Sentral ng Pilipinas’ Monetary Board decided to retain its target reverse repurchase rate at 6.5%.
This has been the fourth time the MB has kept its interest rate. The latest rate print has been implemented by the MB after its rate hike on October 2023 to mitigate supply-side inflation pressures. Potential minimum wage adjustments that have been lobbied in Congress might have given rise to “second-round effects,” according to the BSP.
“The upside risks mainly have become worse so that would make us somewhat more hawkish than before,” Remolona said. Our big frustration in the old Ministry of Energy was the inability to discover a big enough oil or natural gas reserves in...
Bangko Sentral Ng Pilipinas Monetary Board Interest Rate Inflation Target Rate Reverse Repurchase Rate
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bangko Sentral holds interest rates high as inflation risks ‘become worse’Although the Philippine central bank's inflation forecast has inched up, it is not contemplating rate cuts or hikes anytime soon
Read more »
BSP moved its next rate decision to April 8The Bangko Sentral ng Pilipinas moved its Monetary Board’s next meeting date to April 8 (previously April 4).
Read more »
BSP widely expected to keep rates steadyThe Bangko Sentral ng Pilipinas is expected to keep rates unchanged in its next policy meeting, with the likelihood of huge rate cuts getting smaller and smaller.
Read more »
BSP: $689M net 'hot money' entered Philippines in FebruaryShort-term foreign portfolio investments or “hot money” stood at a net inflow in February, data released by the Bangko Sentral ng Pilipinas (BSP) on Thursday showed.
Read more »
Further reductions in banks' reserve requirements possibleThe Philippine financial and banking system can still accommodate further reductions in the reserve requirement ratio (RRR), the Bangko Sentral ng Pilipinas (BSP) said Wednesday.
Read more »
Etiqa PH, Digital Pilipinas underscore importance of creative industriesDefining the News
Read more »