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Rates kept steady in off-cycle meeting

MONETARY authorities on Thursday decided to keep key interest rates unchanged ahead of next month’s scheduled policy meeting, citing economic uncertainties and hinting of further off-cycle actions.

The BSP’s policymaking Monetary Board, which was supposed to meet on April 23 and expected by some analysts to end an easing cycle in response to heightened inflationary risks, retained the benchmark rate at 4.25 percent.