December 6, 2022

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Philippines central bank raises policy rate by 75 bps By Reuters

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© Reuters. FILE PHOTO: A logo of Bangko Sentral ng Pilipinas (Central Bank of the Philippines) is seen at their main building in Manila, Philippines March 23, 2016. REUTERS/Romeo Ranoco

MANILA (Reuters) – The Philippine central bank raised its key policy rate by 75 basis points on Thursday.

The move was widely expected after Governor Felipe Medalla said on Nov. 3 that the Bangko Sentral ng Pilipinas needed to match the U.S. Federal Reserve’s 75 bps rate hike earlier this month.