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Philippine keeps policy rate unchanged, as expected
May 11, 2017 / 8:14 AM / 7 months ago

Philippine keeps policy rate unchanged, as expected

MANILA, May 11 (Reuters) - The Philippine central bank left its key overnight borrowing rate steady at 3.0 percent on Thursday, as expected, with inflation seen within its target for this year and next despite strong economic momentum.

All 10 economists in a Reuters poll expected the central bank to keep interest rates unchanged this week. Eight economists with longer-term forecasts said the central bank would start raising rates in the second half of the year.

The Philippine central bank has not tinkered with interest rates since it raised the benchmark rate by 25 basis points in September 2014. Policymakers will meet next on June 22. (Reporting by Enrico dela Cruz and Neil Jerome Morales; Editing by Jacqueline Wong)

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