MANILA, Sept 22 (Reuters) - The Philippine central bank lowered its forecast for 2016 average inflation on Thursday.
It cut the forecast to 1.7 percent from 1.8 percent, Deputy Governor Diwa Guinigundo told reporters.
The central bank kept its forecast for 2017 inflation at 2.9 percent. It expects inflation to average 2.6 percent in 2018.
The central bank has a 2-4 percent annual inflation target for both 2016 and 2017.
On Thursday, it left its benchmark interest rate unchanged at 3.0 percent. (Reporting by Erik dela Cruz and Neil Jerome Morales; Writing by Karen Lema; Editing by Jacqueline Wong; Editing by Kim Coghill)
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