Central Bank of the Philippines holds policy rate
Governor pledges further increases if necessary as central bank raises inflation forecast
The Central Bank of the Philippines (BSP) kept its policy rate steady for the third straight meeting today, but its governor said it would increase rates again if necessary.
The BSP’s four-member monetary board decided to keep its benchmark overnight reverse repurchase rate unchanged at 6.25%, the highest level since 2007. It also kept the overnight deposit and lending rates at 5.75% and 6.75% respectively.
“The monetary board recognised the challenging outlook for economic growth,” Eli
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