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Philippine central bank keeps key rates steady, as expected

MANILA, Oct 1 (Reuters) - The Philippine central bank kept its policy rates steady on Thursday, as expected, citing benign inflation and ample liquidity to support the pandemic-ravaged domestic economy.

It maintained the rate on the overnight reverse repurchase facility at a record-low 2.25%.

Twelve of 13 economists Reuters surveyed ahead of Thursday’s policy meeting had expected the Bangko Sentral ng Pilipinas to keep rates on hold, while a lone economist had projected a cut of 25 basis points.

Reporting by Neil Jerome Morales Editing by Ed Davies

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