Interest rate hike to continue

By Ed Paolo Salting

Nov 21, 2022 12:17 am

MONETARY authorities will cap this year with another interest rate hike, analysts said, likely a 50-basis-point (bps) adjustment that will raise the Bangko Sentral ng Pilipinas' (BSP) policy rate to 5.5 percent.

Last Friday, BSP Governor Felipe Medalla declared that the central bank's policymaking Monetary Board (MB) would continue to respond to US Federal Reserve (Fed) decisions, telling Reuters that 'if the Fed does 50 [bps], we cannot have zero, right? So the question is whether it's 25 or 50.'

A general view of the Bangko Sentral ng Pilipinas Building in Malate, Manila. TMT FILE PHOTO

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