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Rate hikes make credit more expensive with the goal of controlling inflation, but this also means people and businesses have less money to spend, potentially slowing down the economy
(1st UPDATE) The central bank governor does not rule out the possibility of another rate hike by November 16, noting that any decision would depend on the yet to be released GDP data for the third quarter of 2023 and the latest consumer price index data
The Philippine central bank took an off-cycle monetary policy action on Thursday as it raised its key interest rate to anchor inflation expectations and to provide support to the currency.
The Bangko Sentral ng Pilipinas (BSP) snapped its six-month policy tightening pause as it decided to hike the policy rate after an off-cycle meeting on Thursday in a bid to stem rising inflation.
The Philippine central bank will hold a press conference at 3 p.m. Manila time on Thursday, led by Governor Eli Remolona, its media office. The policy-making Monetary Board holds its... -October 26, 2023 at 12:54 am EDT - MarketScreener