Economics
Philippines Hikes Rate While Signaling Gradual Normalization
- Majority of analysts had predicted the 25 basis-point hike
- Central bank to make bond-buying window a regular facility
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The Philippine central bank raised its key interest rate for the first time since 2018 to combat Southeast Asia’s second-fastest inflation.
Bangko Sentral ng Pilipinas increased the benchmark rate by 25 basis points to 2.25%, it said in a statement on Thursday, as forecast by 14 of 21 economists in a Bloomberg survey. The rest saw no change.