AN economist has forecast further hikes in the Bangko Sentral ng Pilipinas' (BSP) key policy rates even with the 50-basis-point increase on Thursday, citing the need to address interest rate differentials with the Federal Reserve (Fed).

Rizal Commercial Banking Corp. chief economist Michael Ricafort, in a report dated August 18, said the latest increase in the BSP's key rates is a preemptive move as the Federal Open Market Committee is projected to hike the Fed's key rates by 50 basis points to 75 basis points during its meeting on September 21.