{"id":24616,"date":"2011-10-20T13:02:00","date_gmt":"2011-10-20T17:02:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/2011\/10\/20\/philippines-central-bank-keeps-policy-rate-at-4-50\/"},"modified":"2011-10-20T13:02:00","modified_gmt":"2011-10-20T17:02:00","slug":"philippines-central-bank-keeps-policy-rate-at-4-50","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/10\/20\/philippines-central-bank-keeps-policy-rate-at-4-50\/","title":{"rendered":"Philippines Central Bank Keeps Policy Rate at 4.50%"},"content":{"rendered":"<p><span><span><span><span>The&nbsp;<a href=\"http:\/\/www.bsp.gov.ph\/\">Bangko Sentral ng Pilipinas<\/a>&nbsp;kept its overnight borrowing rate unchanged at 4.50% and the overnight lending rate at 6.50%, and kept reserve requirements unchanged at 21%. &nbsp;The Bank said: &#8220;The Monetary Board&#8217;s assessment of a manageable inflation environment and subdued economic conditions continues to support current monetary policy settings. &nbsp;Latest average baseline forecasts show a lower inflation path, consistent with the 3-5 percent target range for 2011-2013, while inflation <a href=\"http:\/\/www.bloomberg.com\/news\/2011-10-20\/philippine-central-bank-holds-benchmark-interest-rate-at-4-5-.html\">expectations<\/a>&nbsp;remain well-contained, supported by easing commodity prices. Domestic economic growth has moderated as the global recovery has slowed down and as domestic public spending has been weaker than expected.&#8221;<br \/> <\/span><\/span><\/span><\/span><br \/><a name='more'><\/a><span><a href=\"http:\/\/www.centralbanknews.info\/\" name=\"more\"><\/a><span><span><span>T<\/span><\/span><\/span><span><span>he Philippine central bank also held the <a href=\"http:\/\/www.centralbanknews.info\/2011\/09\/philippine-central-bank-holds-rate-at.html\">rate unchanged<\/a> at its last meeting, and last raised its&nbsp;<a href=\"http:\/\/www.centralbanknews.info\/2011\/05\/philippine-central-bank-hikes-rate.html\">interest rate<\/a>&nbsp;in May this year by 25 basis points to 4.50%, and increased&nbsp;<a href=\"http:\/\/www.centralbanknews.info\/2011\/07\/philippine-central-bank-raises-reserve.html\">reserve requirements<\/a>&nbsp;by 100bps at its previous meeting. &nbsp;<\/span><span>The Philippines reported annual consumer price inflation of 4.8% in September, compared to 4.7% in August, 4% in July, 4.7% in June, 4.5% in May and 4.3% in April. &nbsp;Inflation is currently tracking inside the Bank&#8217;s inflation target range of 3%-5%. &nbsp;<\/span><\/span><\/span><\/p>\n<div><span><br \/><\/span><\/div>\n<div><span>The <a href=\"http:\/\/online.wsj.com\/article\/SB10001424052970204618704576642552055044920.html\">Philippines<\/a> Peso (PHP) has gained by just over 1% against the US dollar so far this year, with the USDPHP exchange rate last trading around 43.37. &nbsp;The Philippines central bank next meets to review policy settings on the 1st of December this year.<br \/> <\/span><\/p>\n<div><span><span><span><span><a href=\"http:\/\/www.centralbanknews.info\/\">www.CentralBankNews.info<\/a><\/span><\/span><\/span><\/span><\/div>\n<p><span> <\/span><\/div>\n<div><img loading=\"lazy\" decoding=\"async\" width=\"1\" height=\"1\" src=\"https:\/\/blogger.googleusercontent.com\/tracker\/8290544642025682538-3723811919046327396?l=www.centralbanknews.info\" alt=\"\" \/><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The&nbsp;Bangko Sentral ng Pilipinas&nbsp;kept its overnight borrowing rate unchanged at 4.50% and the overnight lending rate at 6.50%, and kept reserve requirements unchanged at 21%. &nbsp;The Bank said: &#8220;The Monetary Board&#8217;s assessment of a manageable inflation environment and subdued economic conditions continues to support current monetary policy settings. &nbsp;Latest average baseline forecasts show a lower &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2011\/10\/20\/philippines-central-bank-keeps-policy-rate-at-4-50\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Philippines Central Bank Keeps Policy Rate at 4.50%&#8221;<\/span><\/a><\/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-24616","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/24616","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=24616"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/24616\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=24616"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=24616"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=24616"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}