Philippines keeps inflation target at 2%-4% through 2026

The central bank is unlikely to cut rates in the next few months, Bangko Sentral ng Pilipinas Governor Eli Remolona told a media conference, reiterating the lender’s hawkish stance. - PDI

MANILA: The Philippines central bank said on Thursday (Dec 21) it has decided to retain its inflation target range of 2% to 4% through 2026, reiterating its readiness to tweak monetary policy to achieve targets.

The inflation target range remains an appropriate representation of the medium-term goal for price stability, the central bank said in a statement.

"The current and projected inflation environment continues to support the steady growth of the economy," it said

The prevailing higher-for-longer policy stance, plus non-monetary measures by the government, aim for a sustained return of inflation to the medium-term target and keep inflation expectations anchored, the central bank said.

Philippine inflation eased to 4.1% in November, bringing the year-to-date figure to 6.2%, still above the central bank's target range of 2% to 4% for 2023. - Reuters