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Philippine c.bank hikes rates further to cool inflation

The Star Business LogoThe Star Business1w ago

Philippine c.bank hikes rates further to cool inflation - The Star Business

Quick Summary:

MANILA: The Philippine central bank raised its benchmark interest rates by half a percentage point on Thursday, as expected, and signalled further policy tightening to bring inflation back within its target and support a sagging local currency.

The interest rates on the overnight deposit and lending facilities were hiked to 3.75% and 4.75%, respectively.

Federal Reserve's hefty rate hike of 75 basis announced hours earlier.


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Article Details

Author / Journalist: The Star Online

Category: Economy

Topics: BSP Interest rates Inflation /Business/Business News Bangko Sentral ng Pilipinas Banking

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-09-22, 15:22:00

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Reading Time: 2 minutes read

Article Length: 259 words

Coverage Area: Malaysia

Availability: Desktop Web, Mobile Web

News ID: 464445

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About The Star Business

The Star Business Logo

Main Topics: Economy

Official Website: thestar.com.my

Update Frequency: 33 posts per day

Year Established: 1971

Headquarters: Malaysia

News Last Updated: 11h ago

Coverage Areas: Malaysia

Ownership: Independent Company

Publication Timezone: GMT +8:00

News Language: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #22

Publisher Details

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