BSP policy settings to be kept steady in near term – BSP exec

By Joann Santiago, Philippine News Agency MANILA, June 22 – - Challenges in both the domestic and foreign environment remain manageable and this situation continues to enable the Bangko Sentral ng Pilipinas (BSP) to keep policy settings steady. Logo photo courtesy of bsp.gov.ph BSP Deputy Governor Diwa Guinigundo, in a briefing, said domestic monetary officials remain on the view that “current monetary policy settings remain appropriate.” “With manageable inflation dynamics and favorable prospects for domestic demand, the monetary policy stance can continue to be kept steady for the near term,” he said. The central bank has kept steady its key policy rates since November 2014 given the low inflation environment and strong growth of the domestic economy. From October 2014 to May 2016, the central bank’s policy-making Monetary Board (MB) kept the central bank’s overnight borrowing or reverse repurchase (RRP) rate at four percent and the overnight lending or repurchase [...]