MANILA :The Philippine central bank kept interest rates at record lows on Thursday, looking past increasing inflation pressures to support an economy struggling with the fallout of recent COVID-19 curbs.
BSP Governor Benjamin Diokno told a news briefing policy settings remained appropriate, with inflation pressures still manageable and the growth outlook uncertain. Inflation is running above the central bank's 2per cent-4per cent target range. Indeed, the government cut its 2021 growth target in August to 4.0per cent to 5.0per cent, from 6.0per cent to 7.0per cent previously.
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