Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla said on Thursday that interest rates might rise by 50 basis points in August amid inflationary pressures.
Medalla said the BSP is closely monitoring developments in the financial markets, especially the recent hawkish stance of the Federal Reserve, which has caused the Philippine peso to depreciate.
“If such pressures are left unchecked, these could add to the already high domestic inflationary pressures,” he said in a message to reporters. “And because of this, the BSP is prepared to be more aggressive in raising its policy rate, compared to its initial gradualist stance. In particular, BSP is prepared to raise its policy rate by 50 basis points in August,” he added.It has already raised interest rates twice this year — by 25 basis points in
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BLACKPINK announces comeback, ‘largest world tour’ in AugustThe South Korean girl group will shoot its music video this July and drop new music the following month, the representative added. Read more👇
Read more »
BLACKPINK to make comeback in AugustHow you like that? The K-pop girl group prepares for their first comeback after a year and 10 months! 🖤💖
Read more »
Blackpink to comeback in August, to stage 'largest world tour in K-pop girl group history'Get yourselves ready and in order because not only is BLACKPINK coming back in August, the famous K-pop girl group will also be staging a world tour!
Read more »
BSP, experts: Inflation to stay ‘elevated’ ahead | Bianca CuaresmaTHE continued rise in global commodity prices and more pronounced second-round effects on domestic goods and services will trigger more price increases of local commodities ahead, the Bangko Sentral ng Pilipinas (BSP) said on Tuesday, after inflation shot up above 6 percent in June. Following the Philippine Statistics Authority (PSA)…
Read more »
BSP starts campaign for polymer moneyAs part of its banknotes campaign, the Bangko Sentral ng Pilipinas (BSP) has launched a dedicated webpage or microsite for the new P1,000 polymer banknote to increase public awareness and encourage its use.
Read more »