Economics
Philippines Holds Rate as Central Bank Cuts Inflation Forecasts
- Central banker sees inflation easing to below 4% next month
- Central bank had raised rates by 175 basis points last year
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The Philippines central bank left its benchmark interest rate unchanged for a second straight policy meeting, while cutting inflation forecasts for this year and next.
The overnight reverse repurchase rate was held at 4.75 percent, Bangko Sentral ng Pilipinas said in a statement in Manila on Thursday. The decision was in line with the forecasts of all 22 economists surveyed by Bloomberg.