Philippines central bank gov says may raise rates by 100 bps more this year

by Aurelia Butler 6 July 2022, 00:30 169 Views

“To begin with, even with no inflation target breaching we should normalise monetary policy as GDP recovers,” Bangko Sentral ng Pilipinas Governor Felipe Medalla said in a phone message.

The central bank has raised its benchmark interest rate by a total 50 basis points so far this year, and a cumulative 100 bps hike will bring the rate to 3.5%. Its next policy review is on August 18.

Source: Economy - investing.com

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Philippines central bank gov says may raise rates by 100 bps more this year

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