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Philippine keeps policy rate steady at 4%, as expected

[MANILA] The Philippine central bank left its benchmark interest rate unchanged at 4.0 per cent on Thursday, as expected, with inflation not a problem and economic growth on a solid footing.

It also kept the rate on its short-term special deposit accounts (SDAs) steady at 2.5 per cent.

The policy-making Monetary Board holds a rate-setting meeting every six weeks.

The SDAs are a facility where banks can put funds for between seven and 32 days.