BORACAY, Philippines :The Philippine central bank kept its benchmark interest rate at a record low on Thursday, maintaining support to ensure a sustained recovery for the Southeast Asian economy even as it warned of risks to inflation next year.
"On balance, the sum of new data suggests that there remains scope to hold monetary policy settings steady amid a manageable inflation environment," BSP Governor Benjamin Diokno said. A decline in infections has allowed for a gradual easing of curbs, with more businesses reopening and helping the recovery gain some momentum in recent months.
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