Philippine central bank raises rate to 5.5% - Channel NewsAsia
The Central Bank of the Philippines raised its key interest rate by 50 basis points to 5.5% to combat rising inflation. The move exceeded market expectations and follows a period of economic cooling in the country.
Why it matters
This aggressive monetary policy shift reflects the global challenge of balancing inflation control with economic growth in emerging markets.
--> The Central Bank of the Philippines raised its key interest rate by 50 basis points to 5.50% on October 22. This was the fourth consecutive increase, and its size exceeded market expectations.
All 27 economists surveyed by Reuters expected Bangko Sentral ng Pilipinas to raise the rate by only 25 basis points. Since April, the total monetary policy tightening has amounted to 100 basis points, Channel NewsAsia reports .
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