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October 02, 2023

Monetary Board maintains interest rates

Monetary authorities maintained key interest rates as they anticipate inflation to align with the target range.

The Bangko Sentral ng Pilipinas (BSP) kept rates unchanged, while the Monetary Board adjusted inflation forecasts.

The board remains watchful for potential risks and is ready to resume tightening measures if necessary.

Economists expect the BSP to maintain rates for a few more meetings before potentially considering a rate cut, coinciding with an expected return to the inflation target range.

Local policy decisions are influenced by future moves of the US Federal Reserve, which has indicated the possibility of two 25 basis point increases this year after a recent pause.

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