Philippine central bank trims inflation forecasts for 2016 and 2017
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[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.
Navigate Asia in
a new global order
Get the insights delivered to your inbox.
REUTERS
Share with us your feedback on BT's products and services
TRENDING NOW
Japan stocks look set for new highs in 2025 on earnings, reform
Beijing’s calculated silence on the Iran war
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
