The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) decided on Thursday, Aug. 17, to maintain the benchmark rates, citing the need to allow declining inflation to continue.
Bankero and BSP Governor Eli M. Remolona stated that the overnight reverse repurchase (RRP) rate, or policy rate, will remain at 6.25 percent for the fourth consecutive policy meeting, despite emerging inflation risks.
While not ruling out future rate adjustments, Remolona emphasized the current non-BSP measures and the easing of price pressures.
The board also left the interest rates on the BSP’s overnight deposit and lending facilities unchanged at 5.75 percent and 6.75 percent, respectively.
