Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. believes that anticipated inflation staying within the target range up to next year will allow monetary authorities to adjust policies as needed. Remolona cited forecasts suggesting inflation will remain within the 2.0- to 4.0-percent target throughout 2026. This flexibility enables the BSP to adapt its monetary policy in response to evolving economic conditions.
Expected within-target inflation up to next year will give monetary authorities room to adjust policy as needed, Bangko Sentral ng Pilipinas Governor Eli Remolona Jr. said.'Our latest forecasts up to 2026 suggest that inflation will remain within the target,' Remolona told The Manila Times last Friday.'This gives us scope to continue adjusting our monetary policy as economic conditions evolve.
7 percent in January 2023 — as Russia's invasion of Ukraine hit global supply chains.'Policy rate hikes in 2023 helped bring inflation to within-target range this year,' Remolona said.Inflation likely averaged 3.2 percent last year, the BSP has said, plunging from the well-above target 6.0 percent recorded in 2023. It expects a December result— official data will be released today — in the 2.3- to 3.1-percent range.
Inflation Monetary Policy Bangko Sentral Ng Pilipinas BSP Economic Forecast
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BSP sees December inflation to be swifter at 3.1%Latest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
Weather Disruptions and Higher Utilities Fuel Inflation in December 2024According to the Bangko Sentral ng Pilipinas (BSP), weather disturbances disrupting supply chains and increased utility costs likely contributed to faster inflation in December 2024. The BSP forecasts average inflation between 2.3% and 3.1% for December, with full-year inflation averaging 3.2%. The BSP attributes the upward price pressures to higher food prices due to supply disruptions and increased electricity and petroleum prices. However, these pressures are expected to be partially offset by lower prices for agricultural commodities like rice.
Read more »
BSP Awards Nearly P5 Billion in Contracts for New Polymer BanknotesThe Bangko Sentral ng Pilipinas has awarded contracts worth nearly P5 billion for the production of new polymer banknotes. The contracts were awarded to various international companies for the supply and delivery of P50, P100, P500, and P1,000 banknotes. The new banknotes feature enhanced security features and designs incorporating local wildlife.
Read more »
BSP Forecasts December 2024 Inflation at 2.3%-3.1%The Bangko Sentral ng Pilipinas (BSP) projects December 2024 inflation to fall within a range of 2.3 percent to 3.1 percent, keeping the average inflation for the year at 3.2 percent, within the 2 percent to 4 percent target.
Read more »
BSP touts advantages of polymer banknotes | Cai U. OrdinarioTHE Bangko Sentral ng Pilipinas (BSP) said the use of polymer banknotes can protect Filipinos from counterfeit bills while protecting the environment.
Read more »
August 21 Movement Questions BSP's Removal of Heroes from CurrencyThe August Twenty-One Movement (ATOM) criticizes the Bangko Sentral ng Pilipinas (BSP) for removing national heroes from new polymer banknotes, raising concerns about the future of paper currency and the erasure of Filipino identity.
Read more »