THE BANGKO Sentral ng Pilipinas (BSP) has room to further hike interest rates without “killing” economic recovery, according to its governor. READ:
THE BANGKO Sentral ng Pilipinas has room to further hike interest rates without “killing” economic“Our policy rates are still accommodative. The policy rate as it goes up is not even keeping up with the inflation rate. As the inflation rate goes down, the real policy rate becomes less negative,” BSP Governor Felipe M. Medalla said during a Financial Executives Institute of the Philippines membership meeting on Tuesday.
The economy expanded by a stronger-than-expected 8.3% in the first quarter. Economic managers are targeting 6.5-7.5% gross domestic product growth this year. “We’re still providing support for the recovery even with the increase in August and maybe with the rest of the year,” he said.-cycle move, as it sought to contain broadening inThe reverse repurchase facility rate is currently at 3.25%, while the rates on the BSP’s overnight deposit and lending facilities are at 2.75% and 3.75%, respectively.
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