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Central bank policy rates seen unchanged |
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(January 15, 2004 - Philippine Daily Inquirer)
by Doris C. Dumlao THE POLICY-MAKING Monetary Board of the Bangko Sentral ng Pilipinas is expected to keep its key policy interest rates unchanged at its monthly interest rate setting meeting Thursday, given that inflation remains manageable, BSP Governor Rafael Buenaventura said Wednesday. |
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The BSP's key policy rates are at 10-year lows of 6.75 percent for overnight borrowing and 9.00 percent for overnight lending.
Buenaventura shrugged off projections by some analysts that the Philippines might buck the trend of interest rate downtrend this year because of pressures from currency volatility. "I don't think that's the case because if you look at interest spreads versus the US dollar, there is every indication that the US, if its interest rates have to go up in the second half, those will be very minimal," he said. He said a 25-basis point increase in rates of the US Federal Reserve "will not trigger any change on our part unless inflationary pressures come in." home | latest news |
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