Bangko Sentral keeps policy rate unchanged, as expected

May 11, 2017 - 4:45 PM
Bangko Sentral logo facade
The Bangko Sentral ng Pilipinas main building in Manila. REUTERS/Romeo Ranoco/File Photo

The Bangko Sentral ng Pilipinas on Thursday, May 11 2017, moved to leave its key overnight borrowing rate steady at 3.0 percent, as expected, with inflation seen keeping within its target for this year and next, despite strong economic momentum.

All 10 economists in a Reuters poll expected the central bank to keep interest rates unchanged this week. Eight economists with longer-term forecasts said the central bank would start raising rates in the second half of the year.

The Philippine central bank has not tinkered with interest rates since it raised the benchmark rate by 25 basis points in September 2014.

Policymakers will meet next on June 22.