Philippines’ inflation target will drop in 2015

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The Philippines government has lowered the central bank's inflation target from 4% to 3% from 2015 onwards, it announced on December 13.

The country's Development Budget Coordination Committee decided to retain the current target of 4% – with leeway of 1% either side – for 2013 and 2014, before reducing it to 3% in both 2015 and 2016.

A lower target is "consistent with the desired disinflation path over the medium term", a statement explained, and the expected higher capacity for economic growth

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