RHB | Philippines| Policy Rates Kept Unchanged As Domestic Activities Remain Firm

Economic Research	26 June 2015
Philippines
Economic Highlights
Policy Rates Kept Unchanged As Domestic Activities Remain Firm The Bangko Sentral ng Pilipinas’ (BSP) Monetary Board, kept the overnight borrowing and lending rates unchanged at 4.00% and 6.00% respectively on 25 June, for the sixth 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: 22 June 2015: Current Account Surplus Shrank in 1Q 11 June 2015: The Philippines' Exports Contracted In April 05 June 2015: Inflation Eased Further To A Nine-Year Low In May 01 June 2015: Money Supply Rose While Bank lending Slowed in April 29 May 2015: Economic Growth Losing Momentum In 1Q But Expected To Improve 15 May 2015: Policy Rates Maintained Amid Firm Economic Activities