Philippine central bank raises CPI forecasts, doesn't change policy rate

The benchmark interest rate was left unchanged at a record low of 3.75 percent, in line with expectations it will hold fire before it cuts rates at least one more time by the end of the year.

Ten of 12 economists polled by Reuters last week had expected no change in rates, but one of the two dissenters later joined the majority after data on Tuesday showed exports performed better-than-expected in July.

The central bank said it raised its average inflation forecast to 3.4 percent from 3.1 percent for 2012 and to 4.1 percent from 3.2 percent for 2013 following recent increases in oil and non-oil commodity prices globally.

SHARE CLOSE
Blogger		Google+
Live Journal		Plurk
Stumble Upon

Tweet

	PREVIOUS ARTICLE
	S. Korea keeps interest rates steady at 3 percent in surprise announcement

NEXT ARTICLE
Swiss National Bank cuts growth outlook, keeps key rate unchanged

Write a Comment

Terms

Enter your comments - 3000 characters max

Type in image code

 Receive China Post promos
 Respond to this email

Submit