Philippines Holds Rates Despite Economic Fears
Pressure on the bank to cut rates increased after data revealed inflation had eased to an annual rate of 0.8 per cent in July, a record low, along with disappointing trade figures. Exports contracted 3.3 per cent in June
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The Philippines kept benchmark interest rates unchanged on Thursday, resisting mounting pressure for a cut amid a marked slowdown in the economy and fears of a currency war between China and the export-led Southeast Asian economies. Details
