MANILA, Mar 27 (Xinhua): The Philippine central bank on Thursday decided to keep policy rates steady as it expects inflation for 2014 to fall within the government's target of 3.0 to 5.0 per cent.
The overnight borrowing or reverse repurchase facility still stands at 3.5 per cent while overnight lending or repurchase remains at 5.5 per cent. These rates have been unchanged since October 2012.
"In deciding to maintain policy rates, the Monetary Board noted that the future inflation path is likely to stay within the target ranges of 3.0 to 5.0 per cent for 2014 and 2.0 to 4.0 per cent for 2015," central bank governor Amando Tetangco, Jr. said in a briefing.
The local central bank, however, hiked its reserve requirement for banks, possibly signalling the start of tightening the monetary policy.
Next year, inflation is seen settling at 3.2 per cent, slower than the previous projection of 3.3 per cent.
Philippines to keep key policy rates steady
FE Team | Published: March 28, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
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