Central Bank Keeps Interest Rates On Hold

April 2006 | Economic Analysis

The Philippines' central bank, the Bangko Sentral, left interest rates on hold for the fifth successive month in March. At its regular policy meeting, the bank's monetary board left the key overnight borrowing and lending rates at 7.50% and 9.75% respectively. In a statement, the board said there was room to maintain interest rates at present levels despite a rise in inflation, which in February rose to 7.6%, a nine-month high, mainly reflecting the impact of a two-percentage-point increase in the rate of value-added tax

If you would like to subscribe to South East Asia Monitor Vol 1 and gain instant access to this article, please click here to subscribe.

If you would like to take a trial to South East Asia Monitor Vol 1 please click on the trial link below.