BSP slams brakes on rate hikes as inflation slows
The Bangko Sentral ng Pilipinas kept its policy rate unchanged in May, a first since the central bank unleashed aggressive rate hikes last year to combat inflation.
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The Bangko Sentral ng Pilipinas kept its policy rate unchanged in May, a first since the central bank unleashed aggressive rate hikes last year to combat inflation.
Local factories lost some momentum as headwinds, in the form of retreating demand and resignations, continued to roil production in April.
Businesses were still bullish about their prospects despite headwinds that continue to test the Philippine economy, according to the Bangko Sentral ng Pilipinas.
The debt pile’s ascent came amid the depreciation of the peso and the issuance of domestic security in February.
The national government’s foreign currency debt payments sent the country’s dollar position into familiar territory as it settled into a deficit in February.