Bangko Sentral seen keeping rates steady

Jun 24, 2024 12:47 am

PHILIPPINE monetary authorities will likely keep key interest rates unchanged for a sixth straight meeting this Thursday, analysts said, pointing to the peso's current weakness and minimal risks of inflation breaching target.

During its last meeting on May 16, the Bangko Sentral ng Pilipinas' (BSP) policymaking Monetary Board maintained the benchmark rate at a 17-year high of 6.5 percent, noting that inflation had yet to settle firmly within the 2.0- to 4.0-percent target.

Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. Photo from BSP

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