BSP expects inflation settling within target range

March 5, 2019

The Bangko Sentral ng Pilipinas ( BSP) said the February inflation rate of 3.8 percent '' is consistent'' with its “expectation of the continued easing of price pressures.''

This means, the BSP said,  ''inflation will likely settle within the target range in 2019 and 2020 as previous monetary and non-monetary policy actions work their way through the economy.''

The inflation target range for 2019-2022 is three percent, plus and minus one percent, as set last week by the intergency Development Budget and Coordinating Committee.

The central bank says the enactment of the Rice Tariffication Act ''will further temper rice prices in the near term and help raise long-run productivity in the agricultural sector.''

The BSP will hold its next policy-setting meeting on March 21 to determine if current rates will remain. DMS