Bangko Sentral ng Pilipinas Governor Felipe Medalla on Thursday said the monetary board plans to increase the country’s key policy rate by 75 basis points to match the recent announcement made by t…
Bangko Sentral ng Pilipinas Governor Felipe Medalla on Thursday said the monetary board plans to increase the country’s key policy rate by 75 basis points to match the recent announcement made by the US Federal Reserve.
“As expected, the Fed increased its policy rate this morning by 75 bps. This supports the BSP’s stance to hike its policy rate by the same amount in its next policy meeting on Nov. 17,” BSP Gov. Felipe Medalla said in a statement. So far, the monetary board has raised the country’s overnight borrowing rate to 4.25 percent to reign in inflation. Medalla said the recent hikes also help in stabilizing the peso.
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