MANILA: The Philippine central bank has left its benchmark interest rate steady, as expected, contending inflation was manageable but analysts say chances of a hike are rising due to pressures on food and utility prices and a weak peso.
The Bangko Sentral ng Pilipinas (BSP) kept the overnight borrowing rate at a record low of 3.5%, for a 10th straight meeting. On Wednesday, BSP Governor Amando Tetangco said the scope for keeping interest rates on hold had narrowed with inflation expected to accelerate in the coming months.
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