Philippine and Indonesian MPCs hold rates again

Analysts expect both banks to keep rates unchanged for several more meetings

Bank Indonesia
Bank Indonesia
Photo: Christopher Jeffery

The central banks of the Philippines and Indonesia both kept their benchmark interest rates unchanged on June 22.

The seven-member monetary board of the Central Bank of the Philippines (BSP) kept the overnight reverse repurchase rate at 6.25%. It also held the overnight deposit and lending rates at 5.75% and 6.75%.

The move, widely expected by analysts, came after the BSP stopped raising rates in May, after making nine consecutive rate increases totalling 425 basis points. The BSP also

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