The Philippine central bank increased its benchmark interest rate for the first time in three-and-a-half years on Thursday, with an aim to curtail elevated inflation as domestic economic conditions started to rebound in the first quarter.
The Monetary Board decided to raise its benchmark overnight reverse repurchase facility rate by 25 basis points to 2.25 percent, the Bangko Sentral Ng Pilipinas said.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.