BSP raises rates by 25bp, while Indonesia holds

Economist warns Philippine central bank’s action may not be enough to bring inflation down


The Philippine central bank announced on June 23 the raising of its benchmark interest rate for the second time in two months, to rein in rising inflation.

The Central Bank of the Philippines (BSP) increased its key rate on the bank’s overnight reverse repurchase rate by 25 basis points to 2.5%, effective today (June 24).

The bank also raised its overnight and lending rates by the same amount to 2% and 3% respectively.

The BSP’s latest move follows its rate hikes in May – the first time since

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