Economics
Philippines Puts Rate Hikes on Pause as Inflation Eases
- All economists in survey predicted rate would stay at 4.75%
- Central bank lowers inflation forecasts for 2019 and 2020
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The Philippine central bank left its benchmark interest rate unchanged for the first time in six meetings as inflation pressures eased and the peso strengthened.
The overnight reverse repurchase rate was held at 4.75 percent, Bangko Sentral ng Pilipinas said in a statement in Manila on Thursday, marking the first pause after 175 basis points of increases since May.