Philippine central bank revises inflation forecast

MANILA, Sept. 21 (Xinhua) -- The Philippine central bank on Thursday decided to revise its inflation forecast for the coming years amid a higher inflation path, and retain the interest rate on the overnight reverse repurchase facility at 6.25 percent.

Average inflation in the Philippines is now seen to reach 5.8 percent in 2023 from 5.6 percent previously, while the forecast for 2024 likewise rose to 3.5 percent