Inflation forecasts raised The Bangko Sentral ng Pilipinas (BSP) has decided to stick with the two percent benchmark rate to end 2020 but raised the inflation forecasts due to the increase in crude oil prices as prospects for global economic recovery got a boost from the release of COVID-19 vaccines. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno (MB file) BSP Governor Benjamin E. Diokno said that keeping the policy rate at current level is appropriate. “The Monetary Board believes that an accommodative monetary policy stance, together with sustained fiscal initiatives to ensure public welfare, should quicken the economy’s transition toward a sustainable recovery,” he said after Thursday’s monetary policy meeting, the BSP’s last policy setting decision for the year.