Philippine central bank keeps key rates steady, as expected

MANILA: The Philippine central bank left key interest rates steady on Thursday, maintaining an accommodative policy despite an uptrend in inflation, as the domestic economy faces headwinds from renewed coronavirus restrictions.

The Bangko Sentral ng Pilipinas kept the rate on the overnight reverse repurchase facility at a record low of 2.0% for the third consecutive meeting, as predicted by all 13 economists in a Reuters poll.

The rates on the overnight deposit and lending facilities were also held steady at 1.5% and 2.5%, respectively.