Philippines central bank, Bangko Sentral ng Pilipinas (BSP) stood on hold in its policy meeting at the previous 4% rate.

The primary reason might be to maintain its flexibility in order to respond to any potential impacts rising from Fed's rate hike.

"Going forward, we see rates being kept unchanged in H1 next year, with BSP' focus instead on the transition towards a new interest rate corridor from Q2 2016", says Commerzbank.