What do higher BSP interest rates mean?

By Mayvelin U. Caraballo

May 23, 2022 12:14 am

CITING improved economic growth and rising inflation, the country's monetary authorities have finally raised the central bank's benchmark interest rates for the first time in three years.

Effective last May 20, the policy-making Monetary Board hiked overnight borrowing, lending and deposit rates by 25 basis points to 2.25 percent, 1.75 percent and 2.75 percent, respectively.

Already have an active account? Log in here to continue reading.
Or
Subscribe to the Premium Subscription plan to access this subscriber-exclusive article.

Related Articles

OFW remittances hit year high

Investment approvals top 2023 total as of mid-Sept

Deal to create telco tower firm completed

PH financial sector resources up 10.5% to P32.1T as of July

Remittance news lifts peso; PSEi highest in over two years

National rice inventory 14.4% higher in August

DTI aims for PH to be Asia's top logistics hub