Philippine central bank keeps benchmark interest rate at 3%

MANILA: The Philippine central bank left its benchmark interest rate unchanged at 3.0% on Thursday, as expected.

All 13 economists polled by Reuters had forecast no policy change at Thursday’s policy review.

Policymakers have not touched monetary levers in three years because inflation has remained moderate even as the economy has continued to gallop ahead at one of strongest paces in Asia.

To make policy transmission faster, they moved to an interest rate corridor in June last year and set the main rate at 3%.

Source: http://www.bangkokpost.com/business/world/1328595/philippine-central-bank-keeps-benchmark-interest-rate-at-3-