Rates round-up: Philippines raises policy rate 50bp

Zambia increases amid poor inflation outlooks; Uruguay joins Latin American rate pause trend

Central Bank of the Philippines
The Central Bank of the Philippines
Patrick Roque (https://bit.ly/3FMbD8F)

Philippines: On February 16, the Central Bank of the Philippines (BSP) raised its policy rate by 50 basis points to 6%.

The central bank’s monetary board cited generally increasing inflation figures and projections.

It said rising food and transport prices and “higher-than-expected wage adjustments in 2023” were the sources of these upside risks. BSP officials also advocated “timely and more aggressive whole-of-government actions to mitigate the impact of persistent supply-side pressures on

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