 |
 |
|
|
       |
Central bank not inclined to raise interest rates |
|
(03 February 2005, Thursday - Philippine Daily Inquirer)
Inquirer News Service with INQ7.net THE central bank feels no need yet to tighten its monetary policy and raise key interest rates despite rising inflation and a looming further increase in the rate of the US Federal Reserve, an official said Wednesday. "We don't see a significant reason at this point in time," said Deputy Governor Amando Tetangco Jr. of the Bangko Sentral ng Pilipinas (BSP, the Philippine central bank). The BSP has kept its overnight rate for borrowing at 6.75 percent and its lending rate at 9.00 percent unchanged since mid-2003. Tetangco said there was "very moderate" demand for credit and the inflationary build up was still caused by supply-side factors. "Besides, the peso's recovery has a positive effect on inflation," he added. Various economists say inflation likely reached 8.0-8.5 percent in January, from a near six-year high of 7.9 percent in December, because of increased energy and food prices. BSP Governor Rafael Buenaventura said at an economic briefing Wednesday that the upward trend in inflation "is driven by transitory supply-side factors, which cannot be addressed by monetary action." The US Federal Reserve last year began a series of increases that brought its policy rate to 2.25 percent from 1.00 percent. It has expressed an intention to raise the rate to as high as 4.00 percent this year. Read more Philippine Daily Inquirer News>> |
 |
Circular Letters/Memoranda |
|
Speeches/ Presentations |
|
Photo Gallery |
|
The 2008 RBAP Charter Symposium |
|
2008 CFI Awards |
|
Rural Banking Week Celebration Golf Tournament |
|
Client Satisfaction Survey for Licensing Management System of the Supervision and Examination Sector |
|
Financial Reporting Package 2008 |
|
BSP releases regulations on liquidity, market risk weighting |
