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(From Asia Pulse)
MANILA, Jan 16 Asia Pulse - The policy-making body of the Bangko Sentral ng Pilipinas has decided to keep the overnight borrowing rate at 6.75 per cent and the overnight lending rate at 9.0 per cent, wary of pressures on prices triggered by political developments in the country.
In a statement, central bank governor Rafael Buenaventura said the Monetary Board also took into consideration the modest pace of money and credit demand when it decided to keep the rates unchanged.
"The Monetary Board acknowledges also that the modest pace of money and credit demand as well as the generally uneven character of the trends in other economic …