Philippines Holds Benchmark Rate as Inflation Eases Into Target

(Bloomberg) -- The Philippines central bank left its benchmark interest rate unchanged for a third straight meeting as inflation returned to the target band.

In the first policy meeting led by new Governor Benjamin Diokno, Bangko Sentral ng Pilipinas held the overnight reverse repurchase rate at 4.75 percent, it said in a statement in Manila on Thursday, in line with the forecasts of all 21 economists surveyed by Bloomberg.

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