UPDATE 1-Philippines c.bank expected to keep rates at record low to support economy [Reuters]
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Source: Reuters
UPDATE 1-Philippines c.bank expected to keep rates at record low to support economy By Reuters Staff 3 Min Read * reuters://realtime/verb=Open/url=cpurl://apps.cp./Apps/cb-polls?RIC=PHCBIR%3DECI BSP policy rate poll data * All 13 economists in Reuters poll see key rate steady at 2.0% * Philippine economy likely contracted for fifth quarter in Q1 * BSP rate decision to be announced on May 12 at 0800 GMT * Philippines to release Q1 GDP data on May 11 at 0200 GMT (Updates first and third paragraphs after timing of c.bank policy meeting revised to Wednesday due to a public holiday) MANILA, May 10 (Reuters) - The Philippine central bank is expected to keep its benchmark interest rate at a record low on Wednesday, after the economy likely contracted for a fifth straight quarter in the January to March period, a Reuters poll showed. All 13 economists surveyed predicted the Bangko Sentral ng Pilipinas (BSP) will keep the rate on its overnight reverse repurchase facility at 2.0% for a fourth
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