To fight inflation, BSP raises key rate for first time in 2 years

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) raised its benchmark interest rate by 25 basis points on Thursday, April 23. It marked its first policy tightening in over two years as inflation pressures intensified due to conflict in the Middle East. The move by the central bank’s Monetary Board brought the key policy rate, which influences lending costs across the banking system, to 4.5 percent. READ MORE: Bangko Sentral encourages students to save ‘Worsened outlook’ In a statement, the BSP said the inflation outlook had worsened, citing the impact of geopolitical tensions on global commodity prices. Rising costs […]... Keep on reading: To fight inflation, BSP raises key rate for first time in 2 years

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