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Friday, March 29, 2024

BSP likely to keep interest rates–ING

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THE Monetary Board of the Bangko Sentral ng Pilipinas will likely maintain the benchmark interest rates steady in its meeting on Thursday due to the expected moderation of inflation in the months ahead.

“Philippines’ central bank is likely to keep its policy rate steady at next Thursday’s meeting and through the rest of the year, as inflation trends lower. At the meeting, the bank is expected to release inflation forecasts for CPI indices of 2006 and 2012,” ING Bank Manila senior economist Joey Cuyegkeng said in a report.

“They will probably show inflation peaking around mid-year before trending lower in late 2018 and returning to the target range of 2 to 4 percent by the first half of 2019,” Cuyegkeng said.

“With these inflation expectations over the policy horizon, and with a monetary policy lag of 12 to 18 months, we find no compelling reason to tighten anytime soon,” he said.

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