MANILA, Philippines — The central bank will keep interest rates low for as long as possible to support the country’s economic recovery from the COVID-19 pandemic, the head of the central bank said on Monday.
In a speech delivered during the Sulong Pilipinas 2021, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said the economy is at the tail end of the crisis, with the rollout of the vaccination program ongoing.
At the same time, he said the BSP recognizes that economic recovery is still in its early stage and, as such, expansionary monetary support remains warranted.
“We recognize that the economy is still in its nascent recovery phase,” he said. “The accommodative…
Keep on reading: BSP to keep interest rates low as long as possible to aid economy