You are here

Philippine c.bank 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.

REUTERS

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes