Philippine central bank raises policy rates by 50bp


The Philippine central bank today (August 18) delivered its fourth straight interest rate hike to curb surging inflation, bringing its overnight reverse repurchase rate up 50 basis points to 3.75%.

The Central Bank of the Philippines (BSP) also raised its overnight deposit and lending rates by 50bp to 3.25% and 4.25% respectively. The rate increases will come into effect tomorrow.

The latest policy move by the central bank was in line with market expectations. A recent poll by Bloomberg showed

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