Philippine central bank trims 2015 inflation forecast to 2.2%

[MANILA] The Philippine central bank slightly lowered its inflation forecast for 2015 on Thursday to 2.2 per cent from a previous estimate of 2.3 per cent, amid signs of continued easing in food and transport costs.

But it kept its average inflation estimate for 2016 at 2.5 per cent, as it noted upside risks from pending petitions for adjustments in utility rates.

The estimates are below the midpoint of the central bank's 2-4 per cent targets for 2015 and 2016.

The central bank earlier left its benchmark interest rate unchanged at 4.0 per cent for a fourth straight meeting, as expected, saying inflation is forecast to stay well within its comfort range for this year and the next.

REUTERS