MANILA, Philippines—The Bangko Sentral ng Pilipinas (BSP) has decided to keep its key interest rate unchanged, saying that inflation risks remain “broadly balanced” for the rest of 2021 and that the country needed more help to regain its footing as it goes through the sharpest economic contraction since World War II in 2020.
At the same time, however, the policy making Monetary Board fired a signal to financial markets to brace for higher consumer prices in the next few months by raising its full year consumer price index forecast from 4 percent set last month to 4.2 percent at a meeting on Thursday (March 25).
At an online press briefing, BSP Governor Benjami…
Keep on reading: BSP keeps interest rates steady but warns of higher inflation ahead