BSP hikes policy rate anew by 25bps to 4.75%

The Bangko Sentral ng Pilipinas hikes interest rates to 4.75 percent. REUTERS/Romeo Ranoco/File Photo

MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) raised its benchmark interest rate by a quarter point to 4.75 percent on Thursday, extending its monetary tightening cycle as the inflation outlook continued to deteriorate.

The move came amid inflation easing to 6.8 percent in May but remained among the highest levels in three years and still breached the central bank’s 2 to 4 percent target range for the third consecutive month.

READ: BSP poised to hike interest rates – poll

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