Philippine central bank holds rates and cuts inflation forecast
BSP governor signals possible August rate but refuses to comment on board member allegations
The Central Bank of the Philippines (BSP) kept its policy rate unchanged today (June 27) as the governor said its outlook was more dovish.
The BSP’s rate-setting board lowered its inflation forecasts for this year and next year, and adopted a more dovish stance in its official statement. It is unclear how many board members voted for the change, after unconfirmed press reports that two of them had resigned over corruption allegations.
The central bank’s board held its rates for the fifth
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