BusinessWorld E-paper
July 08, 2022
THE BANGKO SENTRAL ng Pilipinas (BSP) is prepared to raise its policy rate by 50 basis points (bps) in August as the Philippine peso on Thursday breached the P56 level against the US dollarto move closer to its record low.
BSP Governor Felipe M. Medalla on Thursday said the recent hawkish stance of the US FederalReserve has placed “strong depreciation pressures” on global currencies such as the peso.
