RTTNews - Thursday, the Bangko Sentral ng Pilipinas held its key interest rate unchanged at 4%, in line with expectations. The interest rate on overnight lending or repurchase facility is kept at 6%.
The decision to maintain the monetary policy stance comes after a series of policy rate cuts since December 2008 totaling 200 basis points and other liquidity enhancing measures, the central bank said.
The apex bank said the decision was taken on the basis of the assessment that the current monetary settings are appropriate and that inflation is expected to remain within target over the policy horizon.
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