Bangko Sentral keeps rates steady as expected


Posted at Sep 21 2017 04:53 PM

MANILA - The central bank left its benchmark interest rate unchanged at 3.0 percent on Thursday, as many analysts expected.

The Bangko Sentral ng Pilipinas (BSP) said risks to inflation were tilted to the upside but remained within the 2017-2019 target range. 

The BSP also said economic activity remains firm, with government safety nets expected to temper potential price pressure from the tax reform plan.

All 13 economists polled by Reuters had forecast no policy change at Thursday's policy review.

Policymakers have not touched monetary levers in three years
because inflation has remained moderate even as the economy has
continued to gallop ahead at one of strongest paces in Asia.

To make policy transmission faster, they moved to an interest rate corridor in June last year and set the main rate at 3.0 percent. -- with a report from Reuters