Philippines to keep interest rate unchanged at 4.75pc

22 March, 2019 12:00 AM printer

MANILA: The Monetary Board, the policymaking body of the Philippines' central bank Bangko Sentral ng Pilipinas (BSP), decided on Thursday to keep the interest rate on the BSP's overnight reverse repurchase (RRP) facility unchanged at 4.75 percent.

The interest rates on the overnight lending and deposit facilities were likewise held steady, reports Xinhua.

The Monetary Board's decision was based on its assessment that prevailing monetary policy settings remain appropriate, the BSP said in a statement.