Philippine central bank decided to keep its key rates unchanged on Thursday, as widely expected by economists, as inflation environment remains benign.
The overnight borrowing rate or reverse repurchase facility was maintained at 3.50 percent and the overnight lending rate or repurchase facility at 5.50 percent. The reserve requirement ratios were held steady as well.
Inflation is expected to remain within the target until 2015. Moreover, the risks to the inflation outlook appear to be evenly balanced, the Monetary Board said.
At the same time, domestic economic growth remains firm, driven by strong internal demand. The bank said, "Keeping policy settings steady also allows time to assess the impact of recent fine-tuning in monetary operations."
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