Poll: BSP poised for rate hike despite growth concerns

Bangko Sentral ng Pilipinas

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is likely to hike interest rates for a third straight meeting this week, with persistent inflation and peso weakness keeping the case for tighter policy strong despite concerns over weak economic growth.

Of the 15 economists surveyed by the Inquirer, 11 expect the Monetary Board to deliver a quarter-point rate hike at its Aug. 27 meeting, potentially bringing the benchmark rate to 5 percent.

READ: BofA: BSP may end rate-hike cycle in Aug

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