Philippine keeps rates on hold

MANILA, Feb 6 (Reuters): The Philippine central bank left its benchmark interest rate steady on Thursday, as expected, contending inflation was manageable but analysts say chances of a hike are rising due to pressures on food and utility prices and a weak peso.

The Bangko Sentral ng Pilipinas (BSP) kept the overnight borrowing rate at a record low of 3.5 per cent, for a 10th straight meeting. On Wednesday, BSP Governor Amando Tetangco said the scope for keeping interest rates on hold had narrowed with inflation expected to accelerate in the coming months.