Monday 10 December 2018
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inquirer - 24 days ago

BSP hikes rates to stump inflation threat

The central bank yesterday sought to drive a final nail in the coffin of the inflation crisis that has plagued the Philippine economy for the better part of 2018, by ordering a modest interest rate hike that was seen by market watchers as insurance against a possible resurgence in price increases. In a press briefing, Bangko Sentral ng Pilipinas Deputy Governor Cyd Tuao-Amador said the Monetary Board had decided to raise the interest rate on the overnight reverse repurchase facility by 25 basis points to 4.75 percent, effective Friday, Nov. 16. The interest rates on the overnight lending and deposit facilities were raised accordingly. This brings th...

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