Philippines central bank keeps key rates steady as expected

[MANILA] The Philippine central bank kept its benchmark interest rate steady at 4.0 per cent on Wednesday, as expected, amid robust economic growth and subdued inflation.

It also left the rate on its special deposit accounts (SDAs) unchanged at 2.5 per cent and the reserve requirement ratio at 20 per cent.

All 12 economists in a Reuters poll had predicted the central bank will stand pat on rates, on low inflation and strong growth.

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

REUTERS