spot_img
28.4 C
Philippines
Friday, March 29, 2024

BSP maintains interest rates

- Advertisement -

The Monetary Board, the policy-making body of the Bangko Sentral ng Pilipinas, on Thursday maintained its benchmark policy rates amid the easing inflation rate and expected acceleration of economic growth in the second half.

BSP Deputy Governor Francisco Dakila said in a news briefing the Monetary Board decided to maintain the interest rates on the BSP’s overnight reverse repurchase facility at 4 percent, the overnight deposit rate at 3.5 percent and lending facilities at 4.5 percent, respectively.

“Latest baseline forecasts of the BSP continue to indicate that inflation is likely to settle within the lower half of the target band of 2 to 4 percent for 2019 up to 2021, with the balance of risks to the inflation outlook leaning toward the upside for 2020 and toward the downside for 2021,” Dakila said.

He said the upside risks to inflation over the near term could emanate mainly from the potential impact of the African swine fever outbreak on food prices and from potential volatility in oil prices amid geopolitical tensions in the Middle East.

- Advertisement -

LATEST NEWS

Popular Articles