Philippine central bank hikes rates for second straight month

The Philippine central bank says its second consecutive rate increase enables policymakers to withdraw stimulus measures while safeguarding economic stability. – EPA pic, June 23, 2022.

THE Philippine central bank raised interest rates for the second time in two months today, warning that inflation will breach its target this year with rising commodity prices and fish shortages driving up costs.

It hiked its key interest rate by another 25 basis points to 2.5%, effective tomorrow.

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