BusinessWorld E-paper
July 15, 2022
THE BANGKO SENTRAL ng Pilipinas (BSP) unexpectedly raised its benchmark interest rates by 75 basis points (bps) on Thursday, but left the door open for further tightening as it seeks to tame the fastest inflation in nearly four years.
BSP Governor Felipe M. Medalla said the Monetary Board raised its key
rate to 3.25%, effective immediately, which brought back the rate to the
March 2020 level. This latest move is the BSP’s biggest rate hike ever.
