Monday 24 September 2018
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3 months ago

BSP hikes rates again amid stubbornly high inflation

The Bangko Sentral ng Pilipinas on Wednesday raised interest rates for the second time in six weeks to help arrest rising prices of local goods and services which accelerated to a five-year high last month. The hike --- which brings the central bank s key overnight rate to 3.5 percent --- comes in the wake of the record high inflation rates for the first five months of the year, which authorities had originally said would normalize by 2019 without any monetary policy tightening. At th

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