US EditionBSP Holds Rates in Off-Cycle Meeting - BusinessWorld Online
BSP kept the rate at 4.25% to balance inflation risks from oil shocks and support weak growth, marking its first off-cycle move in over two years, officials said.
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BSP holds interest rate in surprise off-cycle meeting
MANILA — The Philippine central bank decided to keep its policy rate at 4.25% during a surprise off-cycle meeting on Thursday and said its monetary policy would focus on second-round effects from global oil price shocks. Governor Eli Remolona said the off-cycle meeting was required because close attention needed to be paid to a fast-changing and uncertain economic environment, which he described as “a very unusual situation”. […] The post BSP ho…
BSP holds rates in off-cycle meeting - BusinessWorld Online
By Katherine K. Chan, Reporter THE BANGKO SENTRAL ng Pilipinas (BSP) kept its policy rate unchanged at 4.25% during a surprise off-cycle meeting on Thursday, as it sought to calm markets amid growing concerns over the impact of the Middle East war on the economy. In a statement, the BSP said it left the target reverse repurchase rate unchanged at 4.25%. “To raise the policy rate at this time would delay the recovery,” the BSP said. This marks th…
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