The Bangko Sentral ng Pilipinas (BSP) headquarters in Manila. —INQUIRER FILE PHOTO

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) hiked its key rate by another quarter-point on Thursday, extending its tightening cycle to tame above-target inflation.

The decision of the Monetary Board brought the policy rate to 5 percent. Since April, the central bank has raised the benchmark rate by 75 basis points.

READ: Poll: BSP poised for rate hike despite growth concerns

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