Economic managers have decided to keep the 2023-2024 inflation target at 2.0 to 4.0 percent and adopt the same range for the following two years, the Bangko Sentral ng Pilipinas (BSP) said on Friday.

'The inflation target range of 3.0 percent ±1.0 ppt (percentage point) continues to be an appropriate quantitative representation of the medium-term goal of price stability that is optimal for the Philippines given the current structure of the economy and outlook for macroeconomic conditions over the next few years,' the BSP said in a statement.