The plan of the Bangko Sentral ng Pilipinas (BSP) to reduce banks’ reserve requirements (RR), even after adjustments to the key rates possibly in June, will not affect the Monetary Board’s policy stance, according to officials.
The plan of the Bangko Sentral ng Pilipinas to reduce banks’ reserve requirements , even after adjustments to the key rates possibly in June, will not affect the Monetary Board’s policy stance, according to officials.
“Nevertheless, the timing of the reduction in RR ratios will also carefully consider the evolving outlook for inflation,” central bank officials added. The main objective of BSP’s monetary operations is to control and manage inflation which the BSP as of March 24 forecasts will average at 4.3 percent for 2022, higher than its February 17 estimate of 3.7 percent. For 2023, the BSP forecasts a higher inflation rate of 3.6 percent from its previous projection of 3.3 percent.
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