Philippines keeps inflation target at 2-4% to 2026

THE Philippines central bank said on Thursday (Dec 21) it has decided to retain its inflation target range of 2 to 4 per cent to 2026, reiterating its readiness to tweak monetary policy to achieve targets.

The inflation target range remains an appropriate representation of the medium-term goal for price stability, the central bank said.

“The current and projected inflation environment continues to support the steady growth of the economy,” it said.

The prevailing higher-for-longer policy stance, plus non-monetary measures by the government, aim for a sustained return of inflation to the medium-term target and keep inflation expectations anchored, it added.

Philippine inflation eased to 4.1 per cent in November, bringing the year-to-date figure to 6.2 per cent, still above the central bank’s target range of 2 to 4 per cent for 2023. REUTERS