Analysts see BSP keeping policy rates steady

DESPITE the off-cycle hike ordered by the Bangko Sentral ng Pilipinas (BSP) last week, analysts believed that the policy rate will be kept steady until the end of the year.

"Since the off-cycle hike is preemptive in nature, we don't think the BSP will hike interest rates in its November rate-setting meeting, even if the Fed (US Federal Reserve) hikes in November," HSBC Global Research economist Aris Dacanay said.