Philippines central bank rewarded for aggressive policy action
Soaring inflation slows amid aggressive rate hikes and easing oil prices
The Central Bank of the Philippines has chosen to hold its policy rate steady for the first time since May after signs of a respite in its soaring inflation trend.
The central bank kept its policy interest rate at 4.75% in its monetary policy meeting today (December 13). It raised the rate in the previous five consecutive meetings, for a total of 175 basis points.
The county’s headline inflation rate had been increasing since late 2015, when it was in negative territory. In October this year
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