Medalla jumps gun on rate hike decision

By Eireene Jairee Gomez

Nov 04, 2022 12:23 am

BANGKO Sentral ng Pilipinas (BSP) Governor Felipe Medalla on Thursday preemptively announced that the Monetary Board would be raising key interest rates by 75 basis points (bps) when it meets on November 17.

Analysts said the adjustment was expected as the US Federal Reserve (Fed) had just continued raising its own rates by another 75 bps, with the only question being that of the likelihood of a December repeat and more moving forward.

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