The Bangko Sentral Ng Pilipinas raised its key interest rate on Thursday for the eight policy session in a row and significantly lifted the inflation forecast for the year, as policymakers assessed that the already-high inflationary pressures have risen further.
The Monetary Board, led by Governor Felipe Medalla, hiked the interest rate on the BSP's overnight reverse repurchase facility by 50 basis points to 6.0 percent, in line with economists' expectations.
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by Jyotsna V
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