“Don’t jump to the conclusion that if the Fed fund rate increases, then the BI rate will follow. That is not true,” BI governor Perry Warjiyo said in a briefing in Jakarta.
MANILA: Central banks in Indonesia and the Philippines held their key interest rates steady to help entrench economic recoveries that are picking up pace as South-East Asia’s worst Covid outbreaks recede.
Bangko Sentral ng Pilipinas left the benchmark rate at 2% yesterday, as predicted by all 20 economists in a Bloomberg survey.
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