Philippine central bank holds rate

Central bank stays put after headline inflation rises for two consecutive months

Central Bank of the Philippines
The Central Bank of the Philippines
Patrick Roque (

The Central Bank of the Philippines (BSP) kept its policy rate unchanged for the fourth straight meeting on April 8, following a recent uptick in headline inflation.

The BSP’s monetary board held its target reverse repurchase rate at 6.5%, unchanged since October 2023. It also kept the overnight deposit and lending rates unchanged at 6% and 7%, respectively.

At a press conference, BSP governor Eli Remolona said the latest inflation path had shifted “slightly higher” but remained within the central

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