Philippine central bank holds rates
BSP warns against upside risks, despite receding inflation
The Central Bank of the Philippines (BSP) kept its benchmark interest rates unchanged today (February 15) for the third consecutive meeting.
Its seven-member monetary board decided to maintain its target reverse repurchase rate at 6.5%. The bank also held the overnight deposit and lending rates at 6% and 7% respectively.
In a statement, the BSP said: “The risks to the inflation outlook have receded but remain tilted toward the upside.”
Considering the prevailing risks, the board deemed it
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