MANILA : The Philippine central bank raised its benchmark interest rate by 50 basis points to 6.0 per cent on Thursday and flagged its readiness to do more to tame inflation, which is running at 14-year highs.Thirteen of the 24 economists polled by Reuters had expected the Bangko Sentral ng Pilipinas (BSP
MANILA : The Philippine central bank raised its benchmark interest rate by 50 basis points to 6.0 per cent on Thursday and flagged its readiness to do more to tame inflation, which is running at 14-year highs.
"An upward adjustment in the policy interest rate would also prevent inflation expectations from drifting further away from the target band," BSP Governor Felipe Medalla told a media briefing after monetary authorities' first rate-setting meeting this year.
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