RHB | Philippines| Policy Rates Maintained Amid Firm Economic Activities

Economic Research	15 May 2015
Philippines
Economic Highlights
Policy Rates Maintained Amid Firm Economic Activities The Bangko Sentral ng Pilipinas’(BSP) Monetary Board, kept the overnight borrowing and lending rates unchanged at 4.00% and 6.00% respectively on 14 May, for the fifth straight meeting. Meanwhile, the special deposit account (SDA) facility and the reserve requirement were also held steady at 2.50% and 20% respectively. The central bank decision came in line with our expectation and consensus estimates, as the current level of interest rates remains supportive of economic growth while inflation continues to be manageable. Economist:  Vincent Loo Yeong Hong  | +603 9280 2172
To access our recent reports please click on the links below: 15 May 2015: The Philippines’s Exports PickUp Steam In March 06 May 2015 :Inflation Continued Trending Lower In April 09 April 2015: Exports Contract Further In February 07 April 2015: Inflation Inched Lower In March Amid Easing Food Prices 01 April 2015: Money Supply Rose While Bank Lending Eased In February 27 March 2015:Policy Rates Held Steady Amid Manageable Inflation Environment