The Bangko Sentral ng Pilipinas is likely to keep the benchmark policy rate at its current level at 6.25 percent, depending on the inflation trend as well as the adjustments by the US Federal Reserve, Fitch Ratings Asia Pacific Financial Institutions Director Tamma Febrian said on Friday.

In an interview with ANC, Febrian said the US Federal Reserve is expected to keep rates high for longer.

Inflation in the Philippines has decelerated for 3 straight months. However, core inflation remains high and headline inflation is still beyond the government’s 2 to 4 percent target.

BSP Gov. Felipe Medalla said on Thursday the Monetary Board is likely to pause hiking rates in the “near term,” adding that adjustments would be “data driven” including inflation outturn and the US Federal Reserve decision, which has an impact on the Philippine peso.

"Taking all these considerations I think in terms of the policy rates you know we think that it will remain where, roughly where they are part of this year and perhaps we may see some cuts next year but that that would be is dependent upon data," Febrian said.

On Thursday, the BSP announced it has kept the key policy rate steady at 6.25 percent.

• BSP keeps benchmark interest rate at 6.25 percent as inflation slows
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