Interest Rates to Remain Steady

The Bangko Sentral ng Pilipinas (BSP, Philippine central bank) maintained policy rates at 3.5% for the overnight lending facility, 3% for the overnight reverse repurchase facility, and 2.5% for the overnight deposit facility. It also left the reserve requirement ratios unchanged at 20%. The decision was based on its assessment that inflation would remain manageable in the next two years. Incoming BSP Governor Nestor Espenilla is expected

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