At its 1 December monetary policy meeting, the Central Bank left the benchmark interest rate unchanged at 4.50% for a fifth consecutive meeting. The decision was widely expected by market participants. Overall, the Central Bank has raised interest rates by a cumulative 50 basis points in 2011. The monetary authorities stated that ?the inflation outlook continues to be manageable? and inflation expectations are ?well-contained?. Moreover, the Central Bank's current ?wait-and-see? stance reflects deteriorating prospects for the domestic economy, especially amid lower external demand for Philippine products.
Philippines Monetary Policy
Central Bank keeps interest rates unchanged at 4.50%
December 1, 2011
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Philippines Economic News
October 17, 2016
In August, cash remittances from Overseas Filipino Workers (OFW) grew 16.3% from the same month of last year to USD 2.3 billion.
October 13, 2016
The Philippines’ exports declined for the seventeenth consecutive month in August mainly due to weak demand from Japan, Hong Kong and the USA. Exports dropped an annual 4.4%, which followed July’s sharper 13.0% decrease.
October 6, 2016
In September, consumer prices rose 0.2% from the previous month, marginally up from August’s 0.1% increase.
September 22, 2016
At its meeting on 22 September, the Central Bank decided to leave the Overnight Reverse Repurchase facility (RRP) unchanged at 3.00% as the markets had expected.
September 15, 2016
In July, cash remittances from Overseas Filipino Workers (OFW) dropped 5.4% over the same month last year to USD 2.1 billion.