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Economy
1 MIN READ
BSP holds rates as expected
May 18, 2023
By Reuters
By Reuters
MANILA, May 18 (Reuters) – The Philippines central bank kept its benchmark interest rate steady at 6.25% on Thursday, pausing its 10-month tightening cycle, with inflation on track to ease back towards its 2% to 4% target range for the year.
Sixteen out of 22 economists in a Reuters poll had predicted the central bank would take a break after raising rates by a total of 425 basis points (bps) since last May, while the rest had expected a 25 bps hike.
(Reporting by Neil Jerome Morales and Enrico Dela Cruz; Editing by Martin Petty and Kim Coghill)
This article originally appeared on reuters.com