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”

Bank Indonesia Raised Rates by 50 basis points to 4.25% to Rein in Inflation

Bank Indonesia increased interest rates by 50 bps which was more than expected on Thursday as it sought to rein in inflation. The Indonesian central bank sees end-2022 headline inflation at slightly above 6%. The move follows a plethora of central banks hiking rates this week. First off was Sweden’s Riksbank on Tuesday with a 75 basis-point hike. Wednesday the Fed raised 75bps. Brazil’s central bank remained unchanged after the FOMC. Bank Indonesia (BI) raised the 7-day reverse repurchase rate … Continue reading “Bank Indonesia Raised Rates by 50 basis points to 4.25% to Rein in Inflation”

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”