Friday, February 11, 2011

Philippine Central Bank Holds at 4.00%

The Bangko Sentral ng Pilipinas held its key policy interest rates at 4.00% for the overnight borrowing (reverse repurchase facility), and 6% for the overnight lending rate (repurchase facility). The bank noted that "latest baseline forecasts indicate that inflation will likely settle within the target range of 4 ± 1 percent for 2011 and 2012." The Bank also noted in its statement that "the balance of risks to the inflation outlook has tilted further to the upside", and that it is prepared to undertake monetary policy action if need be. 


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