You are here

Philippine central bank trims inflation forecasts for 2016 and 2017

18_39325882 - 05_08_2016 - FILES-PHILIPPINES-BANGLADESH-BANKING-THEFT-HACKING-DIPLOMACY.jpg
The Philippine central bank on Thursday lowered its forecasts for 2016 and 2017 average inflation.

[MANILA] The Philippine central bank on Thursday lowered its forecasts for 2016 and 2017 average inflation.

It revised down the 2016 forecast to 1.8 per cent from 2.0 per cent, Deputy Governor Diwa Guinigundo told reporters.

The central bank also trimmed its forecast for 2017 inflation to 2.9 per cent from 3.1 per cent.

The deputy governor said reasons for lowering the forecasts were reduced prices for crude oil and global growth that "continues to be soft".

The central bank has a 2-4 per cent annual inflation target for both 2016 and 2017.

On Thursday, it left its benchmark interest rate unchanged at 3.0 per cent.

REUTERS

sentifi.com

Market voices on:

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom