Bangko Sentral keeps policy rates unchanged

The Bangko Sentral ng Pilipinas (BSP) Thursday kept the policy rates unchanged, saying it has an inflation target to follow. “We do not want to risk breaking the year’s inflation target," Deputy BSP Gov. Diwa C. Guinigundo said. The decision to leave the overnight lending rate at 4 percent and the overnight borrowing rate at 6 percent was made during Thursday’s Monetary Board meeting. The central bank expects inflation, which registered at 4 percent in the 10-month average to October, to range from 3.5 percent to 5.5 percent this year. — VS, GMANews.TV