Philippine central bank trims inflation forecasts for 2016 and 2017
Add BT as a preferred source
[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
Share with us your feedback on BT's products and services
TRENDING NOW
When every phone becomes a satellite phone, what happens to Asia’s telcos?
Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry
Japan Home closing outlets; staff say Valu$ taking over operations
Timah Partners lands S$60 million facility from lenders including UOB, RHB
