Philippine c.bank keeps rate at record low, as expected
MANILA, Aug 12 (Reuters) - The Philippine central bank left its benchmark interest rate at a record low on Thursday, keeping policy accommodative to support the economy as fresh COVID-19 restrictions cloud the recovery outlook.
The Bangko Sentral ng Pilipinas (BSP) kept the rate on the overnight reverse repurchase facility at 2.0% for a sixth straight meeting, as expected by all 11 economists in a Reuters poll.
Data on Tuesday showed the economy grew at its fastest annual pace in over three decades in the April-June period, bouncing back from a COVID-induced slump a year ago, but it contracted on a quarterly basis.
(Reporting by Neil Jerome Morales, Karen Lema and Enrico Dela Cruz; Editing by Ana Nicolaci da Costa)
