The Bank of the Philippines (BSP) left its key interest rate at a record low at its meeting today to support the country’s economic recovery Inflation is expected to remain at a manageable level.
The BSP left its overnight rate for reverse repurchases unchanged at 2.0%.
At the same time, the central bank left its deposit rate at 1.5% and the lending rate at 2.5%.
“BSP’s Monetary Policy Committee has carefully considered its stance to continue accommodative policy action. Due to inflation that is still manageable including the persisting volatility of economic growth trends both domestically and globally.”
Bank of the Philippines Governor Benjamin Diocno