Bangko Sentral’s policy rate held at 6.25% for fifth straight time

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This also marks the first time that the central bank's Monetary Board has set a key policy rate using the new variable-rate auction format

kept its key policy rate at 6.25% for the fifth consecutive time as it expects inflation to still come under control soon.

Ahead of the Thursday policy rate decision, BSP Governor Eli Remolona Jr. already signaled that the higher inflation rate in August, which was caused by rising food prices, may not warrant another policy rate hike.

 

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