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Philippine keeps policy rate unchanged, as expected
March 23, 2017 / 8:23 AM / 9 months ago

Philippine keeps policy rate unchanged, as expected

MANILA, March 23 (Reuters) - The Philippine central bank left its key overnight borrowing rate steady at 3.0 percent on Thursday, saying inflation should settle within its target for this year and next.

Nine out of 10 economists in a Reuters poll predicted the central bank would stand pat on rates, following the widely expected move by the U.S. Federal Reserve to raise interest rates last week. One economist had forecast a rate hike.

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 May 11. (Reporting by Enrico dela Cruz and Neil Jerome Morales; Writing by Karen Lema; Editing by Jacqueline Wong)

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