Economy 1 MIN READ

Philippine holds key rate at record low, as expected

March 24, 2022By Reuters

The Philippine central bank left its benchmark interest rate steady at a record low on Thursday, as widely expected, underscoring the need to insulate the economy from domestic and global uncertainties.

The Bangko Sentral ng Pilipinas (BSP) kept the rate on the overnight reverse repurchase facility PHCBIR=ECI at 2.0% for an eleventh straight policy meeting, as predicted by all 17 economists in a March 15-21 Reuters poll. nL3N2VL3OA

(Reporting by Neil Jerome Morales and Enrico Dela Cruz; Editing by Jacqueline Wong)


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