Economy 1 MIN READ

Philippine holds rates steady at record low, as expected

November 18, 2021By Reuters

The Philippine central bank left its benchmark interest rate unchanged at a record low for an eighth consecutive policy meeting on Thursday, citing manageable inflation and the need to maintain support for the domestic economy’s recovery.

The Bangko Sentral ng Pilipinas kept the rate on the overnight reverse repurchase facility PHCBIR=ECI at 2.0%, as expected by all 19 economists surveyed by Reuters. nL4N2S218T

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


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