Central Bank of the Philippines Increased Interest Rate by 75 BPS
Posted on 07/17/2022
On July 17, 2022, the Bangko Sentral ng Pilipinas (BSP) delivered a surprise 75 basis-point interest rate hike during a surprise off-cycle meeting. The central bank is trying to contain inflation, while attempting to stabilize the peso exchange rate. BSP Governor Felipe Medalla disclosed that the decision of the Monetary Board to raise interest rates…