In a press briefing, BSP Governor Eli Remolona Jr. said this decision comes amid upside risks to inflation, driven by higher transport, food, electricity, and global oil prices.
BSP forecasts indicate inflation will settle near the upper end of the target range, with 2024 inflation adjusted to 3.8% and 2025 to 3.7%.
Despite tight financial conditions, he said domestic output growth remains on track.
The BSP remains committed to adjusting monetary policy as needed to ensure price stability and support the national government's non-monetary measures, the governor said.
