Philippines: Another 75 bps rate raise by the BSP – UOB – by pabspiovano Philippines InterestRate CentralBanks Banks
Key Takeaways
“The central bank stated that this outsized interest rate hike is necessary given the increased likelihood of further second-round effects, persistent inflationary pressures, and the predominance of upside risks to the inflation. Recognizing the upside risks, BSP tweaked its headline inflation projections higher over the policy horizon -- 5.8% for 2022 , 4.3% for 2023 , and 3.1% for 2024 .”
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