- September 23, 2021
- Posted by: admin
- Category: Daily News
- The Philippine central bank left key interest rates steady as it continued to support an economy grappling with the fallout of recent COVID-19 curbs, even as it increased its inflation forecasts for 2021-2023.
- The (BSP) kept the rate on the overnight reverse repurchase facility at 2.0%
- The rates on the overnight deposit and lending facilities were kept at 1.5% and 2.5%, respectively.
- “The outlook for recovery continues to hinge on timely measures to prevent deeper negative effects on the Philippine economy,” BSP Governor Benjamin Diokno said in a media briefing.
- He said current policy settings remained appropriate, with inflation pressures still manageable and the growth outlook uncertain.
- “Together with appropriate fiscal and health interventions, keeping a steady hand on the BSP’s policy levers will allow the momentum of economic recovery to gain more traction by helping boost domestic demand and market confidence,” Diokno said.