Philippines: BSP expected to leave rates on hold – UOB

Economist at UOB Group Lee Sue Ann sees the Bangko Sentral ng Pilipinas (BSP) leaving the key interest rate unchanged at this week’s meeting.

Key Quotes

“The monetary policy statement in March was neutral besides guarding against the build-up of demand price pressures that will eventually derail the nation’s economic revival, if any.”

“Overall, the economic recovery still needs persistent policy support. Unless second round inflationary effects occur, BSP would remain on hold, in our view, keeping the RRP rate at 2.00% until end of this year.”