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BSP Update: Defying expectations with steady rates
BSP surprises by keeping the key policy rate unchanged, a decision it says is “prudent.”
By Metrobank Research
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The Philippine central bank defies financial-market players’ expectations.
The Bangko Sentral ng Pilipinas (BSP)’s Monetary Board kept the reverse repurchase (RRP) rate unchanged at 5.75%, describing the decision as “prudent” amid global policy uncertainty.
The move goes against a market consensus of a quarter-point reduction after data showed the domestic economy grew below the government’s target for the second-straight year in 2024 and inflation remained target-consistent.