© 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.