BORACAY, Philippines : The Philippine central bank kept its policy rate at a record low on Thursday, maintaining support for the pandemic-hit economy even as it warned of risks to inflation next year.
"Keeping a patient hand on the BSP's policy levers, along with appropriate fiscal and health interventions, will keep the economic recovery more sustainable over the next few quarters," he told reporters at a news conference on the resort island of Boracay. Annual economic growth slowed less than expected in the third quarter, putting the country on course to meet, if not exceed, its 2021 target, according to Philippines officials, including Diokno.
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