Philippines holds key rate, flags 2022 inflation risk

MANILA (Bloomberg): The Philippine central bank held its key interest rate steady for a 10th straight meeting, and indicated it would start exiting its pandemic support measures when it sees that the recovery has become sustainable or inflation risks have risen "significantly.”

Bangko Sentral ng Pilipinas left the benchmark rate at 2% on Thursday (Feb 17), as predicted by all 20 economists in a Bloomberg survey. Its last rate move was a 25-basis point cut in November 2020.