Philippines and Indonesia tighten by 25bp
BSP says inflation ‘strong’ as BI’s focus remains on rupiah
The central banks of the Philippines and Indonesia raised rates by 25 basis points today (June 18), as the former works to curb the impact of the Iran war on domestic inflation and the latter battles to prop up its currency.
Philippines: Iran war affects pricesIn a statement, the Central Bank of the Philippines (BSP) said it was increasing its benchmark lending rate to 4.75% because “inflationary pressures remain strong”. This, it said, was because of continued high global oil and fertiliser
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