MANILA : The Philippine central bank kept its benchmark interest rate steady at 6.25 per cent for a second straight meeting on Thursday, and its governor hinted the rate could stay there longer with inflation on an easing trend. Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla said the central ba
MANILA : The Philippine central bank kept its benchmark interest rate steady at 6.25 per cent for a second straight meeting on Thursday, and its governor hinted the rate could stay there longer with inflation on an easing trend.
Medalla is completing the unexpired term of predecessor Benjamin Diokno, the current finance secretary, which ends next month. A decision on the top BSP post is expected within days. The BSP's latest consumer price forecast showed inflation would average 5.4 per cent in 2023, slightly lower than its earlier projection of 5.5 per cent. For next year, inflation is expected to average 2.9 per cent, a tad higher than its earlier forecast of 2.8 per cent.
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