56119
Philippines CB Keeps Borrowing Rate on Hold
Philippines CB Keeps Borrowing Rate on Hold

Philippines CB Keeps Borrowing Rate on Hold

Philippines CB Keeps Borrowing Rate on Hold

The Philippines’ central bank has kept borrowing rate on hold on strong growth and low inflation. The bank saw no reason to alter monetary policy settings at its meeting, its first since the Federal Reserve hiked rates, confident that growth will remain solid and inflation will stay within its comfort range, NewsNow reported. The policy-making Monetary Board kept the overnight borrowing rate steady at 3%, as well as the ceiling and floor rates of its interest rate corridor at 6% and 2.5%, respectively. “Domestic demand conditions are likely to stay firm, supported by solid private household spending, higher government expenditure,” Bangko Sentral ng Pilipinas Governor Amando Tetangco told a media briefing. After likely falling below target this year, inflation is forecast to move inside the central bank’s 2-4% target range in 2017 and the following year, due to possible power tariff hikes and a weaker peso. The central bank raised its inflation forecast for 2017 to 3.3% from 3%, and for 2018 to 3% from 2.9%.

 

Short URL : https://goo.gl/hZSXil
  1. https://goo.gl/L3UU5e
  • https://goo.gl/cozpX5
  • https://goo.gl/ZTnXxa
  • https://goo.gl/HtuYSi
  • https://goo.gl/ln3OYk

You can also read ...

Romania Economy and Formula 1
According to National Bank of Romania advisor Lucian Croitoru...
Gazans on Edge of Economic Collapse
Across the 140-square-mile territory, Gazans are struggling to...
Most vulnerable countries include Turkey (high current-account deficit) and nations such as Saudi Arabia that are pegged to the dollar.
Two months ago, when the US benchmark 10-year treasury yield...
Philippines, New Zealand and Singapore have achieved greater gender equality in the workplace.
Hiring more women could supercharge Asia’s economies. A report...
French PMI Weakens
French industrial morale weakened slightly in April compared...
Global Cybercrime Generating $1.5t in Illicit Profits
New criminality platforms and a booming cybercrime economy...
The government is working on the culture of workaholism and is considering legislation that would cap the total amount  of overtime a worker could do at 100 hours a month.
All is not well in the Land of the Rising Sun. Japan, a...
EC Investigates Apple-Shazam Deal
Apple’s $400 million acquisition of music identification...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus