The Central Bank of the Philippines following the results of the meeting on Thursday raised the key rate of reverse REPO by 50 basis points to 4.5%. Forecast of 14 out of 15 experts who had participated in the Reuters poll, coincided with the decision of the regulator. Over the past 5 months, the rate has been increased 4 times already. During this period, it grew by 150 basis points. With the help of a rate hike, the regulator is trying to ease inflation and support the national currency. In August, inflation in the country reached a maximum of more than nine years in 6.4% against a backdrop of higher taxes and the weakening of the peso. The prices for food and fuel showed the largest increase in August.
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