Bangko Sentral seen keeping rates steady

PHILIPPINE monetary authorities will likely keep key interest rates unchanged for a sixth straight meeting this Thursday, analysts said, pointing to the peso's current weakness and minimal risks of inflation breaching target.During its last meeting on May 16, the Bangko Sentral ng Pilipinas' policymaking Monetary Board maintained the benchmark rate at a 17-year high of 6.5 percent, noting that inflation had yet to settle firmly within the 2.0- to 4.0-percent target.

'With the National Economic and Development Authority Board's recent decision to reduce the import duty on rice to 15 percent from 35 percent until 2028, the BSP now has more room to ease policy rate,' de Castro said.Union Bank of the Philippines chief economist Ruben Carlo Asuncion, meanwhile, said any potential BSP action was likely to be closely tied to the Fed's decisions, noting some central banks' reluctance to reduce rates preemptively.

Source: Loan Digest (loandigest.net)

Sentral Seen Keeping Rates Steady

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