MANILA: The Philippine central bank on Thursday delivered another large interest-rate increase and signalled it has space to raise borrowing costs further to tackle broadening price pressures.
Bangko Sentral ng Pilipinas raised the overnight reverse repurchase rate by 50 basis points to 3.75%. That took the total increases this year to 175 basis points to rein in inflation that has drifted above the BSP’s target of 2-4% for four out of the past seven months.
