Bangko Sentral ng Pilipinas (BSP) will announce its monetary policy decision on 26March.Standard Chartered notes its views as follows: We expect the central bank to keep the reserve repo rate unchanged at 4.0% and the sp…
Bangko Sentral ng Pilipinas (BSP) will announce its monetary policy decision on 26March.
Standard Chartered notes its views as follows:
We expect the central bank to keep the reserve repo rate unchanged at 4.0% and the special deposit account rate unchanged at 2.5%.
Inflation has remained within BSP's 2-4% target this year, and is likely to slow further before rebounding by end-2015.
Food inflation has eased in recent months - to 4.8% in February from 8.3% in August 2014. We think BSP has room to keep policy rates unchanged for most of 2015.
We think the central bank will consider cutting policy rates if inflation eases significantly in the coming months and remains below the benign 2% level for more than six months.
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