Philippine central bank cuts 2015, 2016 inflation estimates

[MANILA] The Philippine central bank said on Thursday it is cutting its inflation estimates for this year and next mainly on slower economic growth and steady food supply.

The central bank now sees average 2015 inflation at 2.1 per cent against a previous estimate of 2.3 per cent, Francisco Dakila, managing director of the central bank's Monetary Policy Sub-Sector, told reporters.

Average inflation is forecast at 2.5 per cent for 2016, versus the previous 2.6 per cent.

Earlier on Thursday, the central bank kept its benchmark interest rate steady at 4.0 per cent for a sixth straight meeting.

REUTERS