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BSP's Monetary Board retains interest rates at 6.5%

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Bangko Sentral Ng Pilipinas News

The Bangko Sentral ng Pilipinas’ (BSP) Monetary Board (MB) has left interest rates untouched, the central bank announced on Thursday.

MANILA, Philippines — The Bangko Sentral ng Pilipinas’ Monetary Board has left interest rates untouched, the central bank announced on Thursday.

“The balance of risks and inflation output has shifted to the downside for 2024 and 2025,” Remolona said. However, higher prices of food items other than rice, transport charges and electricity rates continue to pose upside risks to inflation, according to Remolona. With the MB’s retention, interest rates on overnight deposit and lending facilities also remained unchanged at 6.0% and 7.0%, respectively.

 

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