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Philippine Gov't Maintains Inflation Targets for 2014-2016
Source: news.xinhuanet.com
Source Date: Monday, April 21, 2014
Focus: Institution and HR Management
Country: Philippines
Created: Apr 29, 2014

The Philippine government is maintaining its inflation target of 3 percent to 5 percent for this year following a recent assessment by the inter-agency Development Budget Coordination Committee (DBCC), the central bank said Monday.

 

"Based on the most recent assessment of current inflation developments, evolving economic and financial trends as well as indicators of the public's inflation expectations and the BSP's ( Bangko Sentral ng Pilipinas) emerging forecasts, the current 4.0 percent with an error limit of 1.0 percentage point target for 2014 of the government remains appropriate for the Philippine economy," it said.

 

The central bank also said the government decided to maintain the medium-term inflation target of 3.0 percent for 2015 and 2016.

 

The medium-term inflation target continues to be consistent with the country's current inflation dynamics and outlook for the next couple of years and the expected higher potential capacity under a low inflation environment, it added.

 

The central bank said the announcement of these targets is in line with the BSP's commitment to greater transparency and accountability in its conduct of monetary policy.

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