Skip to content

Philippine Central Bank Ready for Half-Point Rate Hike by August

Updated on

Philippine central bank Governor Felipe Medalla said the monetary authority is “prepared” to raise its key rate by half a point by August. 

The recent hawkish stance of the Federal Reserve puts pressure on global currencies, including the peso, and if left unchecked could add to already high domestic price pressures, he said in a mobile-phone message to reporters on Thursday. As such, the Bangko Sentral ng Pilipinas is “prepared to be more aggressive in raising its policy rate, compared to its initial gradualist stance,” he said.