The Philippine Central Bank raised the key rate by 50 basis points


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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