August 10, 2017 / 8:13 AM / a month ago

Philippine c.bank keeps policy rate steady, as expected

MANILA, Aug 10 (Reuters) - The Philippine central bank left its benchmark interest rate unchanged on Thursday, as expected, with inflation not a concern even as the economy expands at a solid pace this year.

All eleven economists polled by Reuters had expected the central bank to keep its key overnight borrowing rate steady. It has been on hold since a 25-basis-point increase in September 2014.

The central bank set the main rate at 3.0 percent when it moved to an interest rate corridor framework in June 2016 to make policy transmission faster and more efficient. (Reporting by Neil Jerome Morales and Enrico dela Cruz; Editing by Jacqueline Wong)

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