Philippine Central Bank Hikes Rate 50 Basis Points
The Philippine central bank raised its key policy rate by fifty basis points to 5.5 percent to combat persistent inflation pressures. Officials warned they remain open to further tightening if rising price pressures continue.
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The Philippines central bank delivered an outsized 50 bps interest rate hike to 5.5% on Thursday, defying expectations to combat inflation. The fourth consecutive increase comes as policymakers fight broadening price pressures and currency weakness. The decisive move aims to anchor inflation expectations, though economic growth in the first half of the year remains weak.
