{"id":22727,"date":"2011-07-29T04:54:00","date_gmt":"2011-07-29T08:54:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?guid=ddcf1bdb4e7bdd1dfc705df38afd535a"},"modified":"2011-07-29T04:54:00","modified_gmt":"2011-07-29T08:54:00","slug":"philippine-central-bank-raises-reserve-requirements-100bps","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/07\/29\/philippine-central-bank-raises-reserve-requirements-100bps\/","title":{"rendered":"Philippine Central Bank Raises Reserve Requirements 100bps"},"content":{"rendered":"<p><span class=\"Apple-style-span\" style=\"font-family: Verdana, Geneva, sans-serif; font-size: 12px; line-height: 16px;\"><span class=\"Apple-style-span\" style=\"font-family: Verdana, Geneva, sans-serif; font-size: 12px; line-height: 16px;\">The&nbsp;<a href=\"http:\/\/www.bsp.gov.ph\/\" style=\"color: #3778cd; text-decoration: none;\">Bangko Sentral ng Pilipinas<\/a>&nbsp;held its overnight borrowing rate unchanged at 4.50% and the overnight lending rate at 6.50%, and increased the reserve requirement 100bps to 21% effective 5 August 2011. &nbsp;The Bank said: &#8220;bank lending has been growing at double-digit rates since January 2011, supported by the strong momentum of domestic economic activity and stable financial conditions&#8230; &nbsp;The Monetary Board is of the view that sustained foreign exchange inflows, driven by upbeat market sentiment over the brighter prospects for the Philippine economy, could fuel a further acceleration of domestic liquidity growth which could pose risks to future inflation.&#8221;<\/span><\/span><\/p>\n<div><span class=\"Apple-style-span\" style=\"font-family: Verdana, Geneva, sans-serif; font-size: 12px; line-height: 16px;\"><span class=\"Apple-style-span\" style=\"font-family: Verdana, Geneva, sans-serif; font-size: 12px; line-height: 16px;\"><\/span><\/span><br \/><a name='more'><\/a><\/div>\n<div><span class=\"Apple-style-span\" style=\"font-family: Verdana, Geneva, sans-serif; font-size: 12px; line-height: 16px;\"><span class=\"Apple-style-span\" style=\"font-family: Verdana, Geneva, sans-serif; font-size: 12px; line-height: 16px;\">The Philippine central bank last raised its&nbsp;<a href=\"http:\/\/www.centralbanknews.info\/2011\/05\/philippine-central-bank-hikes-rate.html\" style=\"color: #3778cd; text-decoration: none;\">interest rate<\/a>&nbsp;in May this year by 25 basis points to 4.50%. &nbsp;<\/span><span class=\"Apple-style-span\" style=\"font-family: Verdana, Geneva, sans-serif; font-size: 12px; line-height: 16px;\">The Philippines reported annual consumer price inflation of 4.6% in June, up from 4.5% in May and 4.3% in April, while core inflation was measured as 4% compared to 3.7% in May. &nbsp;Inflation is currently tracking inside the Bank&#8217;s inflation target range of 3%-5%. &nbsp;The Bank also increased the <a href=\"http:\/\/www.centralbanknews.info\/2011\/06\/philippine-central-bank-holds-interest.html\">required reserve ratio<\/a> during its June meeting; the latest increase is estimated to remove around P30 billion of liquidity from the system.<\/span><\/span><\/div>\n<div><span class=\"Apple-style-span\" style=\"font-family: Verdana, Geneva, sans-serif; font-size: 12px; line-height: 16px;\"><span class=\"Apple-style-span\" style=\"font-family: Verdana, Geneva, sans-serif; font-size: 12px; line-height: 16px;\"><span id=\"ctl00_CP1_ARD1_lblBody\"><\/span><br \/><a href=\"http:\/\/www.centralbanknews.info\/\" style=\"color: #3778cd; text-decoration: none;\">www.CentralBankNews.info<\/a><\/span><\/span><\/div>\n<div class=\"blogger-post-footer\"><img width='1' height='1' src='https:\/\/blogger.googleusercontent.com\/tracker\/8290544642025682538-8238412612584856383?l=www.centralbanknews.info' alt='' \/><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The&nbsp;Bangko Sentral ng Pilipinas&nbsp;held its overnight borrowing rate unchanged at 4.50% and the overnight lending rate at 6.50%, and increased the reserve requirement 100bps to 21% effective 5 August 2011. &nbsp;The Bank said: &#8220;bank lending has &#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-22727","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/22727","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=22727"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/22727\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=22727"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=22727"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=22727"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}