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Skip Navigation LinksHome :: Markets/asset classes :: Central and Eastern Europe :: Bangko Sentral ng Pilipinas to maintain tight monetary stance.

Tuesday, September 2, 2008

Bangko Sentral ng Pilipinas to maintain tight monetary stance.





Bangko Sentral ng Pilipinas to maintain tight monetary stance. According to the Manila Times , Bangko Sentral ng Pilipinas (BSP) Governor Amando Tetangco stated recently that in order to control inflation and in order to deal with inflation expectations, it would be necessary for the BSP to maintain an appropriately tight monetary stance. Tetangco also said that it was essential to ensure price stability in order to sustain growth over the long term. The BSP expects inflation to reach between 9% and 11% this year and between 6% and 8% next year. The BSP recently raised its key rates by 25bps to 6% for the overnight borrowing rate and 8% for the overnight lending rate. Analysts are expecting the BSP rates to increase the key rates further.







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