BusinessWorld E-paper
October 27, 2023
THE BANGKO SENTRAL ng Pilipinas (BSP) on Thursday delivered an off-cycle 25-basis-point (bp) rate hike, as it warned inflation will remain above the 2-4% target range until the middle of 2024.
The Monetary Board raised its target repurchase rate to 6.5%, the highest in 16 years, or since the 7.5% seen in May 2007. Rates on the overnight deposit and lending facilities were also raised by 25 bps to 6% (from 5.75%) and 7% (from 6.75%), respectively.
