Investing.com - Financial Markets Worldwide
⏳ Final hours! Save up to 60% OFF InvestingProCLAIM SALE

Philippine c.bank maintains 2% to 4% inflation target through 2024

Published 12/19/2020, 10:03 AM
Updated 12/19/2020, 10:10 AM
© Reuters.

MANILA, Dec 19 (Reuters) - The Philippine central bank has
set its inflation target for 2023-2024 at 2% to 4%, seeing a
benign inflation path in the coming years as the country
recovers from the coronavirus pandemic.
The inflation target "continues to be an appropriate
quantitative representation of the medium-term goal of price
stability", the central bank said in a statement late on Friday.
It was approved by the inter-agency body in charge of
setting the government's macroeconomic goals and policies on
Dec. 3, the central bank added.
The inflation target is 2% to 4% in 2020 to 2022. Inflation
is expected to average 2.6% in 2020, 3.2% in 2021 and 2.9% in
2022.
"The assessment of factors that could influence inflation
suggests manageable inflation environment over the near term,"
the central bank said.
For 2023 and 2024, inflation would largely be influenced by
the pace of economic recovery in the post-pandemic period, it
added.
The Philippine central bank has been one of the most
aggressive central banks globally in policy easing, slashing
rates by a cumulative 200 basis points this year. It left key
interest rates steady at its last policy meeting in 2020, but
signalled readiness to take further action if needed.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.