MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is expected to hold key interest rates steady when its policy-making Monetary Board meets on Thursday (March 25) as the burden of reviving the pandemic-battered economy would outweigh concerns on elevated inflation at a time when COVID-19 cases surged.
“We expect the Philippines’ central bank to keep its key overnight borrowing rate unchanged at 2 percent. The near-term prospects remain worrisome for the Philippines as it copes with an intensifying virus outbreak that shows no signs of abating,” Moody’s Analytics said in a report Monday.
“Although the country’s fiscal spending has been more conservative relative to its S…
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