The Monetary Board of the Bangko Sentral ng Pilipinas (BSP), Philippines central bank raised its benchmark interest rate by 25 basis points and hinted at further hikes to contain surging inflation following an emergency meeting on Thursday, lifting the key rate to 6.5%. The move came after inflation accelerated to 6.1% year-on-year in September as food prices rose. It is the highest since the 7.50 percent logged in May 2007. Since it started raising interest rates in May last year, … Continue reading “Philippines Central Bank Surprised Raising Rates to 6.50% in Emergency Meeting, Warns of Future Hikes”
Philippines Central Bank Held Rates at 6.25% with Stable Peso and Downward Inflation Trend
The Monetary Board of the Bangko Sentral ng Pilipinas (BSP), Philippines central bank held rates at 6.25%. Rates at their August meeting, the highest since the 7.50 percent logged in May 2007. Since it started raising interest rates in May last year, the BSP has so far increased key policy rates by 425 basis points (bps), making it the most aggressive central bank in the region. BSP Governor Eli Remolona Jr. said “monetary authorities are ready to respond as necessary … Continue reading “Philippines Central Bank Held Rates at 6.25% with Stable Peso and Downward Inflation Trend”
Philippines Central Bank Held Rates at 6.25%, Highest Since May 2007 as Inflation Moderates
The Monetary Board of the Bangko Sentral ng Pilipinas (BSP), Philippines central bank held rates at 6.25%. Rates are now the highest since the 7.50 percent logged in May 2007. Since it started raising interest rates in May last year, the BSP has so far increased key policy rates by 425 basis points (bps), making it the most aggressive central bank in the region. Governor Felipe Medalla said “I would like to see two months of below 4% inflation before … Continue reading “Philippines Central Bank Held Rates at 6.25%, Highest Since May 2007 as Inflation Moderates”
Philippines Central Bank Raised Rates by 25 basis points to 6.25%, Highest Since May 2007
The Monetary Board of the Bangko Sentral ng Pilipinas (BSP), Philippines central bank hiked by 25 basis points to 6.25%. Rates are now the highest since the 7.50 percent logged in May 2007. Since it started raising interest rates in May last year, the BSP has so far increased key policy rates by 425 basis points (bps), making it the most aggressive central bank in the region. BSP joined the Federal Reserve and the Hong Kong’s monetary authority in raising … Continue reading “Philippines Central Bank Raised Rates by 25 basis points to 6.25%, Highest Since May 2007”
Philippines Central Bank Raised Rates by 50 basis points to 5.50% with Inflation at 14 Year Highs
The Monetary Board of the Bangko Sentral ng Pilipinas (BSP), Philippines central bank hiked by 50 basis points to 5.50% and follows a 75 basis-point increase at the last meeting. It was the seventh consecutive rate hike, pushing borrowing costs to a new high since early-2009. BSP joined the Federal Reserve and the Hong Kong’s monetary authority in raising its base rate to combat inflation. Later the same day, Taiwan’s central bank announced a 12.5-basis-point increase to 1.75%, The Philippine … Continue reading “Philippines Central Bank Raised Rates by 50 basis points to 5.50% with Inflation at 14 Year Highs”
Philippines Central Bank Raised Rates by 50 basis points to 4.25%, Moves to Support Peso
The Monetary Board of the Bangko Sentral ng Pilipinas (BSP), Philippines central bank hiked by 50 basis points to 4.25%, the highest since August 2019. BSP joined Indonesia and some other Asian central banks raising rates. Hong Kong’s monetary authority had also raised its base rate by 75 basis points to 3.5% on Thursday. Later the same day, Taiwan’s central bank announced a 12.5-basis-point increase to 1.625%, Vietnam’s central bank said it would raise its benchmark rate, currently 4%, by … Continue reading “Philippines Central Bank Raised Rates by 50 basis points to 4.25%, Moves to Support Peso”
A Big Week for Central Bank Rate Hikes
The week ahead is being billed as Fed Week; it is so much more there are three days of central-bank decisions with multiple interest-rate hikes on their way. First off will be Sweden’s Riksbank on Tuesday, with a likely 75 basis-point hike. Wednesday the Fed is set to raise 75bps also, with a chance of 100bps. Brazil’s central bank is later after the FOMC. Thursday you get Asian central banks in the Philippines, Indonesia, Japan and Taiwan are all expected … Continue reading “A Big Week for Central Bank Rate Hikes”