Philippines holds key rate to spur growth amid higher prices

MANILA, Sept 24 (Bloomberg): The Philippine central bank held its key interest rate steady as the economy gradually reopens from pandemic lockdowns, while signaling that consumer prices will rise faster than previously anticipated for the next few years.

Bangko Sentral ng Pilipinas left the benchmark rate at 2% Thursday for a seventh straight meeting, as predicted by 21 of 22 analysts in a Bloomberg survey. One had expected a 25 basis point reduction.