Philippine central bank holds rate
Central bank stays put after headline inflation rises for two consecutive months
The Central Bank of the Philippines (BSP) kept its policy rate unchanged for the fourth straight meeting on April 8, following a recent uptick in headline inflation.
The BSP’s monetary board held its target reverse repurchase rate at 6.5%, unchanged since October 2023. It also kept the overnight deposit and lending rates unchanged at 6% and 7%, respectively.
At a press conference, BSP governor Eli Remolona said the latest inflation path had shifted “slightly higher” but remained within the central
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