(MENAFN) The Philippines refrained from any alterations on the interest rate of the central bank Bangko Sentral ng Pilipinas (BSP) overnight reverse repurchase (RRP).
A central bank statement confirmed the Monetary Board to have reached a resolution to keep the interest rate at 4.75 percent.
According to the statement, the board also decided for steadiness to be maintained in the interest rates on the overnight lending and deposit facilities.
BSP confirmed "latest baseline inflation forecasts show inflation settling within the target range of 3.0 percent " 1.0 percentage point for both 2019 and 2020, while inflation expectations continue to stabilize within the target band."
It added "inflation pressures have eased further since the previous monetary policy meeting, reflecting mainly the decline in food prices amid improved supply conditions."
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