Philippine central bank pauses tightening as inflation eases
Governor Medalla says rate rises seem to have affected domestic demand
The Philippine central bank has paused its monetary tightening cycle after nine consecutive interest rate hikes, as inflation eases.
The BSP’s seven-member monetary board decided to keep its overnight reverse repurchase rate unchanged at 6.25% today (May 18). It has raised the benchmark rate by a total of 425 basis points since May last year.
The decision came as the bank revised downwards its inflation forecasts for this year and next. It now expects headline inflation to average 5.5% for
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