Philippines tightens more than expected as inflation bites
BSP expects price growth to remain high next year due to oil prices and El Niño effects
The Philippines central bank has delivered a larger-than-expected rate hike, citing the need for a strong response to inflation, which it expects to continue accelerating over the coming months.
The Central Bank of the Philippines (BSP) board said in a statement today (October 22) that it had raised its benchmark policy rate by 50 basis points to 5.5%, marking its fourth consecutive increase. “The monetary board recognised the need for a strong monetary policy response to broadening price
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