Economics
Philippine Central Bank Running Out of Time as It Holds Rate
- Rate kept at record-low 3% as forecast by 12 of 17 economists
- Central bank predicts a breach of its inflation target in 2018
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The Philippine central bank kept its benchmark rate unchanged, as most economists predicted, but it may be running out of time to tighten policy as it forecast a breach of its inflation target this year.
Bangko Sentral ng Pilipinas held the overnight reverse repurchase rate at 3 percent, it said in a statement on Thursday in Manila, as predicted by 12 of 17 economists surveyed by Bloomberg. Five forecast an increase to 3.25 percent.