The Philippine central bank on Thursday decided to leave key rates unchanged as the benign inflation outlook and robust domestic growth provide adequate room to keep the current stance.
The overnight borrowing or reverse repurchase rate was maintained at 4 percent and the overnight lending or repurchase facility at 6 percent.
The cumulative 50-basis-point reduction in policy rates and the operational adjustments in the reserve requirements earlier in the year are working their way through the economy, it assessed.
Going forward, the BSP said it will continue to monitor emerging price and output conditions to ensure that monetary policy remains in line with price stability while being supportive of economic growth.
by RTT Staff Writer
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