BSP Raises Policy Rate, as Expected
Authorities cited volatile oil prices, El Niño impact on agriculture, and potential wage hikes as reasons for the preemptive monetary action.
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BSP raises policy rate, as expected
MANILA — The Philippine central bank raised its key interest rate PHCBIR=ECI by 25 basis points to 5% on Thursday, in line with market expectations for a third consecutive tightening of policy. Twenty-five of 29 economists in a Reuters poll had expected the move. Four others had projected the central bank to keep the rate unchanged at 4.75%. The central bank […] The post BSP raises policy rate, as expected appeared first on Interaksyon.
The Philippine Central Bank Raises Interest Rates for the Third Consecutive Meeting, to 5% per Year.
The Philippine central bank raised interest rates again on Thursday, the third consecutive increase, in an attempt to keep inflation under control as rising energy prices threaten to increase costs across the economy. Exclusive content for subscribers. For full access, follow the link to the article and register.
BSP raises rates for third straight meeting
The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) on Thursday decided to raise rates for the third straight meeting, warning that although headline inflation has eased, oil prices remain volatile and the severe El Niño could bring consumer prices even higher.
BSP raises interest rate to 5% to tame price risks
Monetary authorities raised key borrowing costs for the third time this year by 25 basis points (bps) to five percent, citing volatile oil prices, the looming impact of El Niño, and potential wage hikes that could keep inflation elevated.In its fourth policy meeting of the year on Thursday, Aug. 27, the policy-setting Monetary Board (MB) raised the benchmark rate from 4.75 percent previously, bringing the cumulative increase since April to 75 bp…
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