Bangko Sentral ng Pilipinas maintains key interest rates due to moderated inflation outlook, despite lingering upside risks from transportation, electricity, and food prices.

The Bangko Sentral ng Pilipinas (BSP) has decided to maintain its key interest rates, including the reversed repurchase rate at 6.5%, the overnight deposit rate at 6% and the overnight lending rate at 7%. This decision has been based on the Monetary Board's assessment of the inflation outlook. The BSP has noted that inflation risks have receded but still lean toward the upside mainly due to higher transport charges, increased electricity rates, and domestic food prices. The central bank believes that inflation risks may still exist, and they are ready to adjust their monetary policy settings as necessary to maintain their primary mandate of ensuring price stability.

February 15, 2024
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