Philippines Leaves Rates Steady, Warns Curbs Limit Recovery
- All 19 analysts surveyed predicted rate would be held at 2%
- New infections, lockdowns pushed economy back into contraction
A Philippine National Police checks papers of motorists during lockdown restrictions in Mandaluyong City, Metro Manila.
Photographer: Veejay Villafranca/BloombergThis article is for subscribers only.
The Philippine central bank held its key interest rate steady for a sixth straight meeting, with the bank’s chief warning that lingering lockdowns to stem the spread of Covid-19 are threatening the economy’s recovery.
Bangko Sentral ng Pilipinas left the benchmark rate at 2% Thursday, as all 19 analysts in a Bloomberg survey predicted.