MANILA, Philippines — The central bank will likely keep its key interest rates unchanged when the policy-making Monetary Board convenes later this month to tackle the recent spike in the country’s consumer prices.
This development comes after the government announced on Friday that the inflation rate for February rose to 4.7 percent, exactly as the Bangko Sentral ng Pilipinas’ economists predicted last week.
In a statement, BSP Governor Benjamin Diokno said the latest outturn is “consistent” with the central bank’s assessment of a transitory uptick in inflation in the first half of 2021, “reflecting the impact of weather-related disturbances, the African swine fever on food prices…
Keep on reading: BSP seen keeping interest rates steady amid expectations of lower inflation in second half